OREANDA-NEWS. October 17, 2012. The Ukrainian delegation headed by Governor of the National Bank of Ukraine Sergiy Arbuzov (a governor in the IMF Board of Governors from Ukraine) participated in the plenary session of the IMF and the World Bank's Boards of Governors, which was held in Tokyo on 12 October 2012.

The Ukrainian delegation included Minister of Finance Yurii Kolobov (an alternative governor in the IMF Board of Governors from Ukraine), Minister of Economic Development and Trade Petro Poroshenko, Deputy Governor of the National Bank of Ukraine Ihor Sorkin, and Chairman of the Board of JSC Ukreximbank Mykola Udovychenko.

The Governor of the National Bank of Ukraine and Minister of Finance of Ukraine held talks with representatives from the international financial organizations in Tokyo. Negotiations between Ukraine and the IMF over the resumption of cooperation under the Stand-by Arrangement are under way. In October 2010, Ukraine began implementing the two-year Stand-by Arrangement. Two tranches worth USD 3.4 billion were disbursed to Ukraine during the two years.

The representatives from Ukraine believe that it would be more expedient to extend the current Stand-by Arrangement than to prepare and develop a new Stand-by Arrangement. An IMF team is expected to visit Ukraine before the end of 2012 to discuss an extension of the Stand-by Arrangement.

During his stay in Tokyo, Governor of the National Bank of Ukraine Sergiy Arbuzov met Mr. Yurii Alimov, Deputy Chairman of the National Bank of the Republic of Belarus. The sides discussed the issues of bilateral cooperation and agreed to hold the next meeting in November in Kyiv.