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Talks with IMF got easier after signing agreements on gas prices

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The tasks of the Ukrainian delegation to the talks with the International Monetary Fund got somewhat easier after the signing of the Russia-Ukraine agreements on the natural gas price.
Ukraine's Vice Premier Serhiy Tihipko said this in an interview with the Ukrainian press. "After revision of the gas deals, the tonality of the talks with the IMF changed for positive," the Vice Premier noted.

Tihipko explained that restoration of cooperation with the IMF is a pledge of further cooperation with the World Bank group. In his words, two programs are being prepared to make it possible to receive from the WB about USD 800 million for covering the deficit and financing investment projects in power industry and other branches. "I believe it will be possible also to count on 650 million from the European Union," Tihipko added.

He said it is extremely difficult to finance the national budget deficit at the cost of privatization, as well as loans from home or foreign investors. Within the framework of the new program for cooperation with the IMF, Ukraine may receive USD 19-20 billion in the course of 2.5 years.

This is particularly important, because the Ukrainian leadership has to create a program that would help gradually resume economic growth. Among the key factors he listed immediate assistance to domestic banks. "Private sector must have banking support: cheap loans for long terms to be able to recover," Tihipko noted.
Written by: Publisher Tuesday, 27 April 2010 13:49 Last Updated on Tuesday, 27 April 2010 14:13