Ukraine: IMF Deal in the Horizon

    Ukrainian Prime Minister Mykola Azarov said the government and the International Monetary Fund have two weeks to prepare a memorandum on a new IMF program, Reuters reports. He attributed the latest development to the “successful” discussions between President Viktor Yanukovich and IMF Managing Director Dominique Strauss-Kahn in Washington.

    Ukraine already used up USD10.5 billion of its USD16.4 billion bailout loan from IMF but further disbursements were suspended after the government under former President Viktor Yushchenko failed to deliver on its pledge to practice fiscal restraint.

    Following talks with Yanukovich on April 12, Strauss-Kahn stressed the importance for the current administration to adopt “a well-grounded 2010 budget to strengthen fiscal sustainability and support the recovery,” according to Reuters.

    About the author

    • 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.