The International Monetary Fund (IMF) is satisfied with the implementation of the liabilities by the National Bank of Ukraine (NBU), reads a posting on the NBU's Web site.
“We’re giving credit to your achievements as a part of our cooperation. We would like to point to efforts aimed at supporting price stability in the country,” reads the report, citing IMF Mission Chief Christopher Jarvis.
According to the report, on February 4, 2013, a working meeting of the NBU’s top managers with specialists of the European department of the IMF was held.
“We’re interested in the resumption and stirring up of cooperation with IMF, which assesses positively the major part of our efforts,” reads the report, referring to NBU Governor Ihor Sorkin.
Sorkin informed IMF specialists on the outcome of the work on achieving great success in fulfilling defined in a memorandum on the economic and financial policies.
The sides agreed that at working meetings they will thoroughly discuss problems and tasks linked to the further continuation of cooperation between Ukraine and IMF.
As reported, an IMF mission arrived in Kyiv on January 29, 2013 and will stay in the country until February 12. Kyiv is pressing for opening a new program for financial cooperation worth SDR 10 billion with the IMF.
The previous Stand-By Arrangement for SDR 10 billion between Ukraine and the IMF formally terminated in December 2012. It was opened late in July 2010. However, the country was able to obtain only two tranches worth SDR 2.25 billion in total.
The program was frozen at the stage of the second review in the spring of 2011. For a year and a half, Ukraine had been trying to persuade the IMF to drop its objections to the government’s subsidizing natural gas tariffs for households until the completion of its gas talks with Russia, but failed.
