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Archive for March 2nd, 2009

Ukraine’s PM promises to skin ministers for arrears of wages

Posted by the Editor on March 2, 2009


News / 2 March 2009 | 17:30

Ukraine’s PM promises to skin ministers for arrears of wages

Prime Minister of Ukraine Yulia Tymoshenko urges the officials to pay off arrears of wages at enterprises of the governmental form of property by the end of March. She said at the Cabinet’s meeting.   

Tymoshenko informed that the total arrears of wages to the all governmental enterprises make 341mln hryvnias. “This sum is absolutely inadmissible,” she said, adding that “arrears of wages in the state sector of economy is intolerable.”

The PM warned that every minister would bear personal responsibility for the settlement of arrears of wages in his or her area of activities. “The end of the month is the term by which I will skin every minister.”

Tymoshenko promised that if the problem of arrears of wages is not settled in a concrete sphere, the profile ministry will be deprived of salaries. “And if this has no effect, the following step will be the submission of the dismissal application to the Verkhovna Rada,” she summed up.

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Tymoshenko proposes to reduce salaries of high-ranking officials threefold

Posted by the Editor on March 2, 2009


News / 2 March 2009 | 16:40

Tymoshenko proposes to reduce salaries of high-ranking officials threefold

Tymoshenko proposes to reduce salaries of high-ranking officials threefold

Prime Minister Yulia Tymoshenko proposes to reduce salaries of high-ranking officials threefold. Tymoshenko stated at the Cabinet’s meeting on regulating arrears of wages to the employees of governmental and non-governmental forms of property.  

“Along with the majority of the Verkhovna Rada, with the VR Chairman we will submit such initiative and pass such resolution – to reduce the salaries of high-ranking officials threefold,” the Head of Government stressed.

According to Tymoshenko, an issue on canceling the people’s deputies’ benefits will be also submitted already tomorrow, “The state has not such money, to pay millions hryvnias today to the needy deputies,” the Head of Government stressed. 

The Prime Minister noted that she and her political force successively advocated canceling the deputies’ benefits though this issue had been many times submitted for voting but failed to get the support from other factions, “Unfortunately, nobody votes except out faction and several deputies from other factions”.  

Yulia Tymoshenko stated that this time the issue on canceling benefits would be submitted for the Verkhovna Rada’s voting so many until the Parliament’s majority votes for it. “If the votes are lacking, we will inform every person in the country, the deputies of what faction do not vote for the complete canceling of the people’s deputies’ benefits,” the Prime Minister stressed.  

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Enterprises, failed to pay wages, must be returned to state ownership, Tymoshenko says

Posted by the Editor on March 2, 2009


News / 2 March 2009 | 15:50

Enterprises, failed to pay wages, must be returned to state ownership, Tymoshenko says

Prime Minister of Ukraine Yulia Tymoshenko has commissioned the Ministry of Economy to define an anti-rate of “top-100” privately owned enterprises that have arrears of wages as well as the anti-rate of privately owned enterprises that dismissed the largest quantity of employees. Yulia Tymoshenko stated at a meeting on regulating arrears of wages to the employees of governmental and non-governmental forms of property today, Government portal reported.

Yulia Tymoshenko noted that she would regularly make such anti-rates public at the Government’s sittings. In the Ukrainian Prime Minister’s opinion, the enterprises, where the owners fail to meet obligations to the employees, should be returned to the state ownership. “Let the owners go and look for a job, if they are not capable at such challenging time to hold the people in job and pay them wages,” the Prime Minister of Ukraine noted.

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Ukrainian billionaire Pinchuk paid lion’s share of Faina ransom

Posted by the Editor on March 2, 2009


News / 2 March 2009 | 15:00

Ukrainian billionaire Pinchuk paid lion’s share of Faina ransom

The majority of the multi-million dollar ransom handed over to Somali pirates for the release of a Ukrainian cargo ship was paid by a Ukrainian billionaire, the presidential press office said on Monday.

The Faina was hijacked off the Horn of Africa on September 25, 2008, and released at the start of last month. The ransom is believed to have been between $3 and $4 million.

“There is no itemization in the budget for ‘funds for the release of hostages,” read the Ukrainian presidential press service statement.

“Therefore, the amount had to be collected from non-budget sources. As the head of the presidential chief of staff and coordinator of special operations, I officially requested help from Ukrainian businessmen who are well-known for their charity projects,” the statement continued.

“Viktor Pinchuk financed the lion’s share of the expenses – several million dollars – in order to secure the release of the Ukrainian crewmembers. These were his own funds that he, as the founder of a charity, decided to use in order to free the Faina’s crew,” the statement concluded.

Steel magnate Pinchuk is one of Ukraine’s richest men. According to Forbes, in 2007 his wealth stood at $5 billion. He is one of the main sponsors of a charitable foundation organized by ex-U.S. president Bill Clinton.

Ukrainian President Viktor Yushchenko personally thanked Pinchuk for his contribution toward the release of the Faina and its crew, the statement also read, RIA Novosti reported.

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Ukraine contributes over USD 1mn to UN budget

Posted by the Editor on March 2, 2009


News / 2 March 2009 | 14:10

Ukraine contributes over USD 1mn to UN budget

Ukraine is among the countries that have for today brought money into a regular budget of the United Nations for 2009. 

According to the UN News Center, there are 43 states now that have fulfilled their financial liabilities to the UN, though the UN financial rules demand that the contributions for the current year be made by January 31, UKRINFORM reports with reference to LigaBusinessInform. 

A size of the contribution of every state to the regular budget is defined as a share of the UN total expenditures. A scale of contributions is set by the UN General Assembly every three years with the level of economic development and the population size of the member-states taken into account. Thus, in 2009 Ukraine provided a trifle over USD 1 million, Russia – USD 29,235.794, Georgia – around USD 73,000.

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IMF welcomes truce between Yushchenko and Tymoshenko

Posted by the Editor on March 2, 2009


News / 2 March 2009 | 13:20

IMF welcomes truce between Yushchenko and Tymoshenko

IMF welcomes truce between Yushchenko and Tymoshenko

The International Monetary Fund has welcomed moves by Ukraine’s leadership to co-operate on economic reforms needed to secure an aid plan for pulling the country out of its financial crisis.

In a letter sent this weekend to the fund, Viktor Yushchenko, president, pledged to put aside differences with Yulia Tymoshenko, premier, and other rivals and adopt the rescue programme. “Time is against us. [But] with this step Ukraine is demonstrating its readiness to resume dialogue with the IMF,” Mr Yushchenko said.

Welcoming the news, Ceyla Pazarbasioglu, the IMF mission chief, told the Financial Times: “For anybody who knows Ukraine, this is progress.”

“Basing on these discussions we hope to come back to Kyiv the next weeks…We expect continuation of aour talks with the authorities next week to make the come back happen,” she added.

She also reminded that the key subjects udner consideration are monetary policy, currency rate and realistic budget position for 2009.

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IMF might change loan terms for Ukraine

Posted by the Editor on March 2, 2009


News / 2 March 2009 | 12:30

IMF might change loan terms for Ukraine

The International Monetary Fund (IMF) is ready to change the terms of its loan program with Ukraine taking into account the higher deficit of the state budget if Ukraine receives additional funds, the head of the IMF mission in Ukraine, Ceyla Pazarbasioglu, said. 

She said that the Ukrainian authorities should assess budget revenues more realistically and get additional financing, for example, from the World Bank, according to UKRINFORM

Pazarbasioglu said that the IMF is ready to envisage a higher deficit of the state budget in its loan program with Ukraine than the deficit expected at 1% of GDP in case Ukraine gets additional funds. 

Ukrainian Vice Premier for European Integration Hryhoriy Nemyria said earlier that Ukraine has a higher probability of obtaining loans not only from the IMF, but also from the World Bank. 

On February 27, Ukrainian President Viktor Yushchenko, Prime Minister Yulia Tymoshenko, Parliament Speaker Volodymyr Lytvyn, National Bank of Ukraine Governor Volodymyr Stelmakh, and Regions Party MP Mykola Azarov agreed to set up a working group to draft a joint position to resume cooperation with the International Monetary Fund (IMF).

In November 2008, the IMF approved the allocation of a USD 16.43 billion stabilization loan to Ukraine to strengthen confidence in the financial sector and bail out the national economy hit by the global financial crisis. In November 2008, Ukraine received UAH 4.5 billion worth of first tranche from the IMF. The allocation of the second tranche has been suspended.

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Cabinet decided to restrain Internet-editions

Posted by the Editor on March 2, 2009


News / 2 March 2009 | 11:40

Cabinet decided to restrain Internet-editions

Cabinet decided to restrain Internet-editions

Friday, February 27, the Cabinet of Miniters of Ukraine charged the Secutirty Service of Ukraine to work out a draft bill on state registration of Internet-editions as mass media. The Security Services has not commmented on the Cabinet’s initiative yet.

MP Anna Herman, the head of the VR committee on freedom of speech and information, believes that this initiative is connected to the problem of speading invalid information through Internet space. She thinks that if this draft bill is submitted for consideration to the parliament it has every chance to be adopted.

“Many deputies have a grudge against Internet-editions and they don’t mind to set control over them,” Herman said.

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