IMF Promises to Assist Ukraine to Stabilize Economic Situation

Business Materials 17 October 2008 15:09 (UTC +04:00)

Ukraine, Kiev, 17 October / Trend corr. Z.Novosvitskiy /The international Financial Fund (IMF) promises to assist Ukraine to stabilize the economic situation in the country, Jeyla Pazarbaziolu, the Head of the IFC Mission, said at the meeting with Yulia Timoshenko, Ukrainian Prime Minister.

IMF is ready to render support and assistance to all members of the organization. "We are ready to assist Ukraine to develop the economic policy," Pazarbaziolu said and noted that currently IMF cooperates with profile ministries of Ukraine, as well as experts on economic and financial issues.

Timoshenko stressed positive economic development indexes in Ukraine for nine months in 2008. However, according to Pazarbaziolu, the country has started facing the results of the global economic crisis, which first of all had reflected the mining complex and chemical industry.

"We are interested in the necessary financial aid to be rendered to Ukraine by IMF," Timoshenko said.

IMF mission started functioning in Ukraine on 16 October.

IMF, according to Timoshenko, is ready to consider issue of special loans in the sum of from $3 to $14bln to the country by IMF to stabilize the financial system.

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