IMF mission starts its work in Ukraine

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Oct. 25, 2011, 11:58 a.m. | Ukraine — by Interfax-Ukraine
A mission of the International Monetary Fund (IMF) started its work in Ukraine on Tuesday, Interfax-Ukraine learned at the IMF's representative office. The visit of the IMF experts will last until Nov. 4.

The IMF decided to renew its loan partnership with Ukraine in the summer of 2010 through a new stand-by program.

In late July 2010, Kyiv received the first tranche of SDR 1.25 billion under the new program. The IMF decided in December to allocate a second tranche worth SDR 1 billion.

The program foresaw future quarterly allocation of tranches, each worth SDR 1 billion, with the exception of the last tranche, which was to be worth SDR 750 million.

However, an IMF mission that worked in Kyiv in March 2011 could not recommend to the IMF Executive Board that it approve another tranche for Ukraine.

The IMF had expected Ukraine to approve pension reform and settle the problem of low prices of natural gas for households - measures required for it to get the third tranche under the SBA.

The next visit of the International Monetary Fund's mission to Ukraine was first scheduled for August 29 through Sept. 9, but was then postponed until late October 2011.

Ukraine's government said that due to the delay in financing, two tranches of the stand-by loan could be combined, which would help replenish the foreign exchange reserves of the National Bank of Ukraine with about $3 billion.

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Anonymous Oct. 25, 2011, 1:52 p.m.    

The head of the commission just called his wife and said "Honey this will over soon, they don't have a chance in hell, I'll be home in time for dinner"

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Anonymous Oct. 25, 2011, 6:25 p.m.    

IMF beware! You don't want to waste you're time or money on Yanukonvicts corrupt regime. They already stole billions from the nations foreign reserves.

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Anonymous Oct. 25, 2011, 6:30 p.m.    

IMF - DO NOT give Yanukovych anything!!!

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Anonymous Oct. 25, 2011, 7:20 p.m.    

IMF $$$ goes to oligarchs and corruption anyway forcing the country to bankrupt itself to pay for the Bankers Oligarch lifestyles like DSK

can you name ONE public toilet at least that was built with IMF money?

everytime I ask our politicians what they do with IMF money and WHERE does it go ...they give the same answer...shrug their shoulders like morons stating they &quot;don't know&quot; but swear that they themselves have NOT stolen one penny of it!

some say it the $$$money never leaves New York ?...its a &quot;credit&quot; we get to pay off?...anyone know???

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Anonymous Oct. 25, 2011, 8:06 p.m.    

Money goes to buy new Mercedes for Yanuk and his buddies. No, they don't have to pay it back; Ukrainian people have to pay it back--with interest! Yanuk has turned Ukraine into its own public toilet.

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Anonymous Oct. 25, 2011, 9:30 p.m.    

tell the IMF and the International Bankers and other crooks to go F... themselves and get out of the country and stay out! And the politicians who want to get into bed with these International Global criminals must be exiled or tried for TREASON against the Nation!

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