OREANDA-NEWS. September 8, 2011.  The visit of the International Monetary Fund Mission to Ukraine aimed at the second review of the standby loan program implementation and at 2011 consulting under Article IV, IMF Articles of Agreement, is expected for the other half of October 2011.

Government members of Ukraine have conducted constructive consultations with David Lipton, Special Advisor to the IMF Managing Director. Negotiating parties have considered basic areas of Ukraine’s social and economic development, analyzed the standby arrangement progress, and shared opinions about the present-day global financial system challenges. David Lipton has in turn urged to take more determined actions in introducing governmental reforms under global financial instability.

The IMF October Mission arrangement is not only the evidence of Ukraine and IMF mutual understanding as to further cooperation but also of the opportunity to strengthen socio-economic reforms based on the Mission’ recommendations to be formulated after Ukraine’s economic and financial policy appraisal based on the Government performance in the first nine months of the year.

It is worth saying that the IMF senior officials took a favorable view of tools created and being implemented by the Ukrainian Government to prevent the world financial instability’s negative impact on the sustainable development of Ukraine.

This has been the main outcome of negotiations with the IMF senior officials held in Washington D.C. on August 23, 2011 by the Ukrainian Governmental Delegation headed by Fedir Yaroshenko, Minister of Finance of Ukraine. The Ukrainian side of the Delegation also included Yuriy Boiko, Minister of Energy and Coal Industry of Ukraine, and Ihor Sorkin, Deputy Head of the National Bank of Ukraine.