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Ukraine awaiting $19 billion IMF credit to be agreed in June

Posted by the Editor on April 30, 2010


News / 30 April 2010 | 14:33

Ukraine awaiting $19 billion IMF credit to be agreed in June

Ukraine awaiting $19 billion IMF credit to be agreed in June

(Reuters) An International Monetary Fund mission will visit Ukraine next month for talks on a new credit program that the government hopes the Fund will agree to in June, Deputy Prime Minister Sergey Tigipko said on Thursday.

Tigipko, speaking on his return from a week of talks in Washington with IMF officials, said Ukraine was seeking a $19 billion program though he said the Fund had not given a firm answer on this.

A senior IMF official said on Wednesday that the ex-Soviet republic needed to provide more detail on fiscal and financial reform plans before loose ends on a new multi-billion-dollar program could be tied up.

A $16.4 billion bailout program was suspended last year by the IMF because the previous Ukrainian leadership reneged on pledges of financial restraint.

Tigipko said the IMF, whose mission would arrive in Kiev on May 17, was particularly focused on revenue figures in the government’s 2010 budget which has just been approved by parliament.

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