IMF: UKRAINE NEEDS WEIGHTED 2010 BUDGET

UkrInform, Kyiv, Ukraine, Friday, October 16, 2009 

KYIV - The government's measures for stabilization of economic situation must be supported by all political forces, and taken with understanding by the Ukrainian society.

Ceyla Pazarbasioglu, head of the International Monetary Fund mission to Ukraine, said this during the Kyiv - Washington TV hookup within the framework of the annual international forum on Ukraine's economic development.

The mission head says the first signs of restoration and economic growth have already appeared, which gives grounds for 2010 optimistic forecasts.

Today's key task is to guarantee implementation of system reforms, which would help realize the country's huge potential, Pazarbasioglu says. Another vital challenge, as she put it, is to draft a weighty budget for 2010. 

The IMF mission is currently staying in Kyiv. IMF experts have come to evaluate implementation of the stand-by program efficiency criteria in keeping with the July 23, 2009 memorandum of economic and financial policy.

The IMF approved the Stand-By Arrangement with Ukraine in November 2008 in an amount equivalent to about USD 16.4 billion, and allocated the first disbursement of USD 4.5 billion.

On May 12, 2009 Ukraine received the second tranche worth USD 2.8 billion. The third tranche amounted to USD 3.3 billion. The IMF also planned to release the fourth disbursement of USD 3.8 billion to Ukraine before the end of 2009.

NOTE:  The 1st Annual International Economic Forum on the Economic Development of Ukraine was held in Washington, D.C. on Thursday, October 15th.  During the Forum there was a live two-hour link with a panel of experts in Kyiv.