IMF could give Ukraine 14-billion-dollar emergency loan - prime minister

The International Monetary Fund (IMF) could soon give Ukraine an emergency loan worth as much as 14 billion dollars, Prime Minister Yulia Tymoshenko said Thursday.

The stabilization credit for the former Soviet republic was already under active consideration by IMF leadership, and would be aimed at calming Ukraine's currently woeful stock and commodities markets, reproted dpa.

"We have information from the IMF ... that they are prepared to provide the money," Tymoshenko said at a press conference in Kiev.

The loan, if given, would be a massive cash infusion for Ukraine, whose national state budget last year was some 45 billion dollars.

Ukraine's ongoing political crisis with early elections scheduled for December was however making talks with the IMF and obtaining the badly-needed cash infusion "quite difficult," she added.

An IMF spokesman declined to comment on Tymoshenko's statements regarding the fund's plans regarding Ukraine.

The country's once-sunny economy has taken several hits from the international financial crisis, with stocks having lost as much as 30 per cent of value over the last month, the once-solid national currency facing widespread abandonment, and foreign investors deserting the country.

Falling international demand for industrial commodities such as metals, agricultural produce, and chemicals have worsened worries, as Ukraine's economy is dependant on high-volume exports of such goods to sustain growth.

Tymoshenko's government's response to the crisis so far has been monetary, with the National Bank of Ukraine dramatically reducing the money supply via tightened credit and stricter banking law.

The moves so far have failed to stop the rot, forcing the government to shut down the national stock market repeatedly, and even advance hundreds of millions of dollars of float money to embattled banks, to stave off a wider financial collapse.

Tymoshenko opposes early elections called by her opponent President Viktor Yushchenko, as the parliamentary vote is widely expected to return a new legislature relatively hostile to NATO and European integration.

Tymoshenko and Yushchenko both support a pro-West Ukrainian foreign policy, but are at odds over whether the Prime Minister or the President should run Ukraine's executive branch.

Foreign investors waiting for decision related to FATF in Iran – official
Foreign investors waiting for decision related to FATF in Iran – official
Iran talks IAEA monitoring cameras at nuclear sites
Iran talks IAEA monitoring cameras at nuclear sites
Various results achieved in Vienna every day – Iran’s MFA
Various results achieved in Vienna every day – Iran’s MFA
Loading Bars
Latest
Transshipment of goods by Azerbaijani ports down in 1Q2021
Israel hits Turkish TV office in Gaza
WHO Director-General vaccinated against coronavirus
Brazil sees nearly 2,500 more COVID-19 deaths
UN Secretary General calls for de-escalation in Israeli-Palestinian conflict
Australia installs record number of solar panels
Bitcoin down more than 15% to $46,800
EU launches zero pollution action plan
Norway removes AstraZeneca from COVID-19 vaccination program
NCOC looking to commence Marine Access Channels Project implementation
Israel reports 30 new COVID-19 cases, 839,030 in total
Germany lifts quarantine requirement for COVID-vaccinated travelers
UK records another 2,284 coronavirus cases, 11 deaths
Gaza Strip death toll from Israeli strikes rises to 65 - Health Ministry
Lavrov, Blinken discuss Russia-US summit, agree to meet in Reykjavik
Airbus to supply Uzbekistan with four H125 and H130 helicopters
Iran’s non-oil exports up 80% in current year: Industry min.
Sinovac allows its COVID-19 vaccine to be made in Turkey
FM Zalkaliani confirms one Georgian injured in Israel
Azerbaijani President made post on Ramadan Holiday (PHOTO)
WHO records over 643,000 new daily cases of COVID-19 worldwide
First Vice-President Mehriban Aliyeva shared footages of fireworks organized in Shusha on her Instagram page (VIDEO)
President Ilham Aliyev lays foundation stone for school No1 in Shusha
President Ilham Aliyev views work done at Shusha Art Gallery
Azerbaijani president, first lady view administrative building for Special representation in Shusha
Azerbaijani president, first lady view building for Shusha Creative Center
President Ilham Aliyev inspects Khan gizi Natavan’s palace
President Aliyev views conditions created at block and cottages under “Khari Bulbul” hotel
Azerbaijani president, first lady inaugurate “Khari Bulbul” hotel after renovation (PHOTO)
Holiday prayers will be held in Yukhari Govharagha mosque tomorrow - President of Azerbaijan
I never seen city like Shusha elsewhere in world. There probably isn’t one - President of Azerbaijan
For all these years, we lived with one goal – to liberate our lands, says Azerbaijani president
Azerbaijani culture, prominent representatives of Azerbaijani culture returned to Shusha today - President Aliyev
Next year we will celebrate 270th anniversary of Shusha - President Aliyev
44-day war is our glorious history - Azerbaijani president
“Kharibulbul” festival will now be held in Shusha every year - President Aliyev
After long break, “Kharibulbul” festival being held in Jidir Duzu, we have been looking forward to this day for 30 years - President Aliyev
Montenegro eases COVID-19 restrictive measures
Senior Hamas commander killed as Israel strikes Gaza, Palestinians fire rockets
Anti-Trump Cheney removed from House Republican leadership
Transport Ministry shares data on ships received in southern Turkish port in 1Q2021
Ministry discloses volume of cargo from Israel handled by Turkish ports
Volume of cargo from Greece handled by Turkish ports revealed
Wix reports higher Q1 revenue, lower profit
BMW plans limited series hydrogen fuel cell SUV in 2022
Georgian economy expected to grow
Iran’s Bahar Azadi gold coin price continues to increase
More data needed before COVID-19 vaccine booster decisions - EU regulators
Azerbaijan shares data on number of vaccinated citizens for May 12
European Court of Human Rights to examine Convention violations by Armenia against Azerbaijan
Oil production volumes down in Kazakhstan
Bayati Shiraz mugham performed on Jidir Plain in Azerbaijan’s Shusha (VIDEO)
Deputy Governor of Iran’s Ilam Province talks about energy sector
Construction of Georgian Namakhvani HPP to be suspended
WB supports Georgian MSMEs and promotes digitalization of country’s economy
Azerbaijan confirms 558 more COVID-19 cases, 1,454 recoveries
Collection of notes of works by Azerbaijani composers prepared by Heydar Aliyev Foundation presented at Shusha Music Festival (PHOTO/VIDEO)
Iran discloses volume of bony fish caught in Caspian Sea
Kazakhstan's oil output below plan for 4M2021
Need to restore transport route to Azerbaijan’s Nakhchivan Autonomous Republic - obvious - Russian expert
Activities in Iran’s Bushehr Province increase
Turkey’s export of clothes to Azerbaijan up from January through April 2021
Turkmenistan, China to consider opportunities for developing co-o in number of areas
Iran to manufacture local equipment in drilling sector
Fuel costs in Georgia increase
I was thinking about architecture of new mosque in Shusha for almost few months - President Aliyev
There used to be 17 mosques in Shusha, hated enemy destroyed all of them - President Aliyev
Georgia reports 1,409 new cases of coronavirus for May 12
We returned to Shusha and we returned forever - President Aliyev
Business activity index slows down in Kazakhstan
Geostat reveals TOP-5 suppliers of oil in Georgia
Iran’s PMO declares data of cargo transportation in Bandar Lengeh Port
Turkey’s export of steel to Kazakhstan decreases
Iran reveals COVID-19 data for May 12
Azerbaijani president, first lady attend opening of “Kharibulbul” festival in Shusha (PHOTO)
Trade ministry discloses volume of electrical goods exported by Turkey to Iran
Turkey’s export of cement to Turkmenistan down
President Ilham Aliyev visits restored “Khan gizi” spring in Shusha (PHOTO)
President Ilham Aliyev lays foundation stone for new mosque in Shusha (PHOTO)
President Ilham Aliyev and First Lady Mehriban Aliyeva attend inauguration of 110/35/10 kV Shusha substation (PHOTO)
French Development Agency to support economic dev't of Kazakhstan
Azerbaijan holds Kharibulbul music festival (VIDEO)
UAE to help Sudan secure all petroleum needs through flexible agreement
Similarweb completes NYSE IPO, at $1.6b valuation
Kazakhstan observes slowing down of food inflation
Azerbaijan’s export of plastics doubles
Turkey sees increase in export of cement to Iran
Russia reports over 8,200 daily COVID-19 cases
Norway will not use AstraZeneca COVID-19 vaccine
Turnaround timeframe at Kazakhstan's Kashagan field unveiled
Turkish airline companies to launch direct flights to Kazakhstan
Dostlug field to allow Turkmenistan to export natural gas to Western countries
Kazakhstan-Latvia trade plummets y-o-y
Refining volume remains practically unchanged in Kazakhstan
Gazelli Group standing beside Azerbaijani nation both in hard and good times (PHOTO)
Kazakhstan’s largest logistics terminal operator to buy fuel via tender
Iran plans to increase exports of non-oil products – Deputy Minister
Turkmenistan, Azerbaijan's SOCAR have huge potential for developing co-op
Kazakhstan boosts goods import from Afghanistan
Azerbaijani PM expresses condolences to Russian counterpart
All news