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You're reading: IMF arrives to Ukraine, but no hope for cash
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Ukraine
only received $5 billion of this loan before the program was frozen in early
2011 due to the government’s stubbornness in refusing to hike the utility
prices for the population. The government needs to hike the price by up to 50
percent to be able to cut the bleeding from the budget in the form of
subsidies.

The
mission’s job this time is to examine the 2013 budget to make sure that the IMF
is comfortable with its basic parameters, and Ukraine gets a chance to renew
borrowing next year, a senior government official said.

In August,
Khoroshkovskiy traveled to Washington and met with IMF’s Managing Director
Christine Lagarde, asking for a new mission to be sent, in order “to prepare
ground for cooperation in the future,” a source in the government said on the
condition of anonymity because he is not authorized to speak on the issue. He
added that the meeting was “very amicable.”

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