Ukraine Agrees with IMF Mission on Aspects of Economic Program
OREANDA-NEWS. On October 27, 2008 Ukraine reached accords with the International Monetary Fund Mission on the aspects of an economic program, which, if it is approved by the IMF Board of Directors, will let Ukraine get an IMF loan to support economic stability of the country within the global finance crisis, NBU and Finance Ministry's statement reads.
The statement says the IFM finance assistance will depend on the fulfillment of a number of measures of economic policy intended to level a balance of payments due to a change of the global market environment, as well as budget balance and execution of comprehensive measures to back Ukraine's banking sector, including making amendments to laws that need to be shortly adopted by the Ukrainian parliament.
Furthermore, according to the Finance Ministry and the National Bank of Ukraine, the IMF assistance opens the way to an intensified cooperation of Ukraine with other international finance institutions on the bilateral basis, allows to build up confidence of investors and ensure sustainable operation of the banking sector.