You're reading: Tigipko: Ukraine expects to continue cooperation with IMF

Ukraine expects to continue its cooperation with the International Monetary Fund (IMF), Vice Premier Sergiy Tigipko told the press in Kyiv on Wednesday.

"I’ll all I can not to shut down the arrangement. It’s not good for the country to take such risks in the difficult times and remain without the support of the international financial organizations," he said.

Tigipko said that even if the Stand-By Arrangement with IMF were a failure, Ukraine would be able to find other reserves to support its economy.

"The country has a large amount of reserves, which could be launched [in the event of] a difficult situation, but this could be taken badly both by domestic and foreign investors," he said.

Tigipko said that the IMF’s position on the need to increase the price of gas for households and heat supply companies remain unchanged, but the president and the country’s government insist on keeping the tariffs at the present level, as effective solutions and programs have not yet been drawn up to help people to cope with a possible increase in the tariffs.

"We’re looking for compensators and alternative proposals. We’re drawing up such a program with the World Bank," he said.

The World Bank has noted the risk of the termination of the current Stand-By Arrangement (SBA) between Ukraine and the International Monetary Fund.