Tuesday, March 30, 2010

Iryna Akimova: Next tranche's size remains subject to negotiations with IMF mission

Iryna Akimova has pointed out that the amount of next tranche remains a subject of negotiations with the IMF mission that continues its work in Kyiv. She has said that if the Parliament manages to pass the 2010 state budget in April, the IMF will consider the issue on allocation of funds within the framework of Stand-By Arrangement during a month.

Iryna Akimova has also said that resuming cooperation with the IMF will give Ukraine the opportunity to get about $2 billion from the World Bank and the EBRD within the framework of targeted infrastructure programs, including transport and energy spheres.

The First Deputy Chief of Staff also does not rule out that Ukraine's cooperation with the IMF will continue for two more years: "Understanding that our cooperation cannot end in September 2010 as provided by the old program, expressed by the IMF experts, was a positive signal. We plan to discuss the procedure of its extension, perhaps for next two years".

According to Iryna Akimova, there are consultations held in the ministries and the National Bank of Ukraine. The International Monetary Fund representatives understand that the new Government got "a heavy burden of problems", including unfulfilled commitments under the Memorandum of Cooperation between Ukraine and the IMF.

"The subject of further negotiations will mainly be issues related to the procedure of these commitments’ implementation and plans for the future”, said Iryna Akimova.