Ukraine Hopeful About New IMF Credit Deal by June

Ukrainian Deputy Prime Minister Sergey Tigipko is hoping for a new credit program with the International Monetary Fund by June, Reuters reports.

Tigipko said the government is eyeing a USD19 billion program but has yet to receive a clear response from the fund on its request. He believes the IMF mission arriving in Ukraine next month will stay for 12 days and report its findings to the IMF board of directors, which will vote on the credit in June.

According to Reuters, a senior IMF official indicated that Ukraine will have to furnish details on fiscal and financial reform plans to tie up “loose ends” on the credit program. The fund suspended a USD16.4 billion bailout program for the former Soviet republic last year, citing failure by the previous Ukrainian leaders to fulfill its pledges on financial restraint.

About the author

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    Eliza Villarino

    Eliza Villarino is an associate editor for Devex and leads the company's news team in Manila. She played a critical role in conceptualizing the Development Newswire. Prior to joining Devex in 2004, she has already published articles and news briefs for Internet media organizations and for the Institute for Ethics and Economic Policy at Fordham University in New York. She earned her bachelor's in political science and master's in public affairs from the University of the Philippines. Eliza is a member of Mensa Philippines.