Ukraine’s IMF obligations remain valid

Relations between Ukraine and the International Monetary Fund concerning the stand-by loan remain valid in terms of Ukraine’s obligations corresponding to a letter of intent and Memorandum of Economic and Financial Policy, signed in July of this year.

The positions of both sides in examining the stand-by loan’s conditions and budget policy of the Cabinet of Ministers for 2009-2010 are being discussed today in Washington D.C. where Ukraine’s delegation is located.

Talks in IMF’s headquarters in the U.S. will be led by acting Finance Mnister Ihor Umansky and his deputy Anatoliy Miarkovsky.

As is generally known, Prime Minister Yulia Tymoshenko earlier announced that the topic of IMF discussions remains the third review of the cooperation program. "Right now discussions are underway regarding a stable form of cooperation and which should be the third review of the program. Discussions are still ongoing," she said.

The IMF in November 2008 approved a decision to implement a two-year stand-by loan program for Ukraine totaling $16.4 billion. Since 2008, Ukraine has already received three installments of the IMF loan totaling $12 billion.