IMF lauds Ukraine's economy growth

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The managing director of the International Monetary Fund (IMF), which has agreed a multi-billion loan to Ukraine, lauded on Saturday an upswing in the country's economy.

The managing director of the International Monetary Fund (IMF), which has agreed a multi-billion loan to Ukraine, lauded on Saturday an upswing in the country's economy.

"Ukraine is making progress; the [reform] program that we have developed is being implemented," Dominique Strauss-Kahn told an international forum in the Ukrainian Black Sea resort of Yalta.

The $15.15 billion loan, which was agreed in late July to help Ukraine's faltering economy, has triggered a wide-ranging political debate.

Kiev is currently in talks with the IMF on scrapping some of the fund's demands in return for the loan, which include an increase in the retirement age and a rise in utility charges.

Opposition leader Yulia Tymoshchenko has criticized the acceptance of the loan, saying it will be a burden for the country.

 

YALTA, October 2 (RIA Novosti)

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