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    IMF delegation may visit Ukraine in May to discuss loan program

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    A delegation from the International Monetary Fund may visit Ukraine within the first two weeks of May to discuss a new loan program for the former Soviet state, Ukrainian Vice-Premier Sergei Tigipko said on Tuesday.

    A delegation from the International Monetary Fund may visit Ukraine within the first two weeks of May to discuss a new loan program for the former Soviet state, Ukrainian Vice-Premier Sergei Tigipko said on Tuesday.

    Tigipko is currently in Washington discussing the provisions of a multi-billion loan for Ukraine with IMF officials.

    "The next stage of consultations concerning further cooperation between the IMF and Ukraine may begin in the first half of May, when the IMF mission arrives in Kiev," Tigipko's press service quoted him as saying.

    Tigipko earlier said that Ukraine might receive $19-20 billion as a loan from the IMF under a new partnership program designed for a period 36 months. Initially the country was planning to request $12 billion from the international financial body.

    Ukrainian authorities earlier said they expected to obtain the first loan tranche already in June 2010.

    Ukraine's current stand-by program, which began in 2008, amounts to $16.4 billion, with $11 billion already provided in three tranches. The fourth tranche of $3.8 billion was due in late 2009 but has not yet been disbursed because of the recent political instability and the country's failure to adopt its budget.

    Ukraine on Tuesday adopted its federal budget for 2010.

    On Sunday, Russian Finance Minister Alexei Kudrin said Russia would back the new loan program for Ukraine.

    The IMF mission was in Ukraine on March 24 - April 2, 2010 to hold talks with the Ukrainian authorities on the resumption of cooperation.

    KIEV, April 27 (RIA Novosti) 

     

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