OREANDA-NEWS. November 01, 2011. The Minister of Finance of Ukraine Fedir Yaroshenko has had a scheduled meeting with officials of the European Department Mission to Ukraine, International Monetary Fund.

The Minister of Finance started with emphasizing the sustainability of Ukrainian authorities’ intentions to fulfill its Stand-By Arrangement obligations.

Fedir Yaroshenko also said that it is IMF cooperation renewal and the Government’s efforts that have enabled Ukraine to show a positive momentum of the region’s economic growth and deficit reduction as early as late 2010.

Along with that, the period’s main achievement is also that we managed, in partnership with the International Monetary Fund, to achieve some economic growth, public finance stability, banking and investment climate recovery.

"The progress of the IMF Memorandum of Economic and Financial Policies is logical and in line with projected achievements", Fedir Yaroshenko said at the meeting.

However, one should remember today that Ukraine, like many other countries, is under circumstances evaluated in terms of new growing external challenges.

Speaking about financial instability, Fedir Yaroshenko said that the main thing within that period was that Ukraine had made efficient tools for protecting the Ukrainian economy and laid a reliable foundation for effective balancing of outside financial impact.

In turn, Mission Chief for Ukraine, IMF European Department Thanos Arvanitis brought his gratitude for active cooperation and fruitful work by the Ministry of Finance, emphasizing that sharing opinions and information is extremely important within that process.

Thanos Arvanitis also outlined the Mission’s objective, namely correcting the economic policy in accordance with the necessities of the times, as well as issues to be discussed by the IMF Mission: 2011 budget execution and basic indicators of the next year budget.