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Azarov: Ukraine can live without IMF funds

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Nov. 14, 2011, 7:53 p.m. | Ukraine — by Interfax-Ukraine
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The Ukrainian government managed without the resources of the International Monetary Fund (IMF) for almost a year, Ukrainian Prime Minister Mykola Azarov has said, the government's press service has reported. He announced this at a meeting of the economic press club with the participation of journalists from leading business publications and a chief scientific officer at the department of public finances at the State Institute of Economics and Forecasting of the National Academy of Sciences of Ukraine, Tetiana Bohdan.

"In six weeks there will be exactly one year when we don't get any funds from the IMF," Azarov said.

He noted that the absence of international funds had not led to problems in the country, with the government meeting all of its external commitments conscientiously and all social programs being funded.

"We lived this year without any problems, and we will do so next year," Azarov said, adding that in 2011, thanks to its balanced economic and financial policy, the government managed to stabilize the domestic situation and reduce the ratio of foreign debt to GDP.

Azarov said that although Ukraine received no tranches from the IMF this year, cooperation with the fund was not interrupted and that Ukraine is continuing to cooperate with the IMF under the Stand-By Arrangement.

He said that the so-called pause in borrowings occurred due to IMF demands to raise tariffs on utility rates for households and added that the Cabinet of Ministers presented its own arguments, expecting the revision of gas contracts and the determination of a fair and justified gas price.

"We had an absolutely open dialog with an IMF mission. We thoroughly discussed our positions several times, and we have complete understanding," he said.


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Anonymous Nov. 14, 2011, 8:11 p.m.    

What happens when you run out of businesses to sell to Russia?

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Anonymous Nov. 14, 2011, 11:28 p.m.    

Then Papa Rasputin will demand the handover of first the Crimea, next the Donbass and finally the rest of the country.

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Anonymous Nov. 14, 2011, 9:48 p.m.    

As usual, zArazov is LYING.

The IMF did NOT demand that Ukraine raise gas tariffs - that was offered by the zArazov government as a method to bring the budget deficit down.

However, zArazov lied about it to try to get himself and his government off the hook prior to elections.

Also - social programs are NOT being funded.

You can ask the Chornobyl rescue workers, whose benefits are not being paid, who demonstrated in front of the Parliament several times already.

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Anonymous Nov. 14, 2011, 9:49 p.m.    

No it can't.

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Anonymous Nov. 14, 2011, 10:19 p.m.    

it has to in order to avoid international scrutiny of its corruption

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Anonymous Nov. 14, 2011, 9:51 p.m.    

Ukraine can live without Azarov.

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Anonymous Nov. 14, 2011, 10:37 p.m.    

If Tymoshenko had done her job there would have been no need for IMF funds.She played populist games instead of reducing susidies that drain the budget.5 years of orange ruled wasted they could have carried out reforms that now must be carried out in the midst of a global crisis.

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Anonymous Nov. 14, 2011, 10:41 p.m.    

The pigs in power stole everything you fool! Thats why they need more money. And it won't go to help the people. It will go to refill their bank accounts! Open your eyes!

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Anonymous Nov. 15, 2011, 12:02 a.m.    

this criminal still talks like a sovok.your moskali friends could only offer high gas prices

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Anonymous Nov. 15, 2011, 12:55 a.m.    

These are lies -

The ukrainian government is in debt by Hundreds of millions/Billions of dollars to Russia's gazprom credit bank for secret loams to pay for the ruusian ripoff gas.

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Anonymous Nov. 15, 2011, 10:07 a.m.    

Having all of his money in dollars, he happily awaits his new year's present of a 10UAH/$ exchange rate...

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Anonymous Nov. 15, 2011, 8:29 p.m.    

It is not a matter of living without IMF funds, but rather the greater advantages for Ukraine and increase potential for raising the standards of life for all Ukrainians. The greater point is continued to be missed by the leadership. This continied talk all points to the joining of the Customs Union and a contuing of the unwarned current government actions.

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