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IMF to allocate $19 mln to Ukraine

30 April 2010 09:21 (UTC +04:00)

Baku - APA-Economics. An International Monetary Fund mission will visit Ukraine next month for talks on a new credit program that the government hopes the Fund will agree to in June, Deputy Prime Minister Sergey Tigipko said on Thursday, Forexyard reported.

Tigipko, speaking on his return from a week of talks in Washington with IMF officials, said Ukraine was seeking a $19 billion program though he said the Fund had not given a firm answer on this.

A senior IMF official said on Wednesday that the ex-Soviet republic needed to provide more detail on fiscal and financial reform plans before loose ends on a new multi-billion-dollar program could be tied up.

Tigipko said the IMF, whose mission would arrive in Kiev on May 17, was particularly focused on revenue figures in the government’s 2010 budget which has just been approved by parliament.

Tigipko indicated that the Fund regarded them as over-optimistic, but he hoped the IMF mission would be convinced by economic performance in April.

"We must show the revenue part of the budget and show how realistic it is. There are differences, but they are theoretical at the moment ... There will be April which will show the realistic tendency in budget revenue," he said.

"We will hold talks on whether our revenue figures are realistic or not, including (being enough to cover) VAT reimbursement", he added.

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IMF to allocate $19 mln to Ukraine

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