OREANDA-NEWS. April 17, 2009. The mission of the International Monetary Fund in Ukraine will recommend the IMF direction to allocate Ukraine the next tranche of the loan in the amount of USD 2.8 bn. The Head of IMF mission in Ukraine Ceyla Pazarbasioglu announced to a media conference on the outcomes of her meeting with the Prime Minister of Ukraine Yulia Tymoshenko.

“We have agreed our position with Ukrainian leaders concerning a proposition to the IMF direction, Executive Board of Directors to give the next tranche in the amount of around 2.8 billion dollars,” Ceyla Pazarbasioglu explained. She added, the IMF mission is satisfied with constructive and effective discussions held with the Prime Minister of Ukraine, the President of Ukraine, President and Board of the National Bank of Ukraine.

“Today we have reached an understanding with Ukraine’s top officials on the expert level concerning completion of the first stage of revision of the program. Ukrainian leaders will forward the Memorandum on economic and financial policy to the Fund’s Board for approval,” the Head of IMF mission in Ukraine explained. According to her, Ukraine can expect the positive decision in May.

Ceyla Pazarbasioglu also underlined recently Ukraine has managed to significantly stabilize the economic situation. According to her, Ukrainian economics has stood the shock: “exchange rate has been corrected, deficit of the budget shortened a bit, inflation lowered more than expected,” Ceyla Pazarbasioglu emphasized. In addition, she said recent decisions made by the Government in the direction of bail-out measures were though hard but necessary.