News
21.04.2010
Ukraine to seek new loan from IMF - Tigipko
Ukraine will seek a new loan of $12 billion from the International Monetary Fund for overcoming consequences of the world economic crisis, Ukrainian Deputy Prime Minister Sergei Tigipko said on Tuesday.
He goes to Washington DC on Thursday for consultations with the IMF administration on a new cooperation program.
"We will present a Ukrainian program of cooperation for the next two - two and a half years. This is a new program targeted for encouraging economic growth," he said. "I think the program value may approximately reach $12 billion."
As for the possibility to reach agreement with the IMF, Tigipko said he was optimistic. "I am very optimistic. We will do our best to coordinate the program with the IMF in early May, and the financing may start in June," he said.
The world economic slowdown cut the GDP of Ukraine, which is highly dependent on exports, by 15%. Before the crisis, Ukraine received an IMF loan of $16.4 billion, but the allocations were suspended late last year when the previous administration of President Viktor Yushchenko did not keep the budget commitments.
ITAR-TASS
