The International Monetary Fund has welcomed moves by Ukraine's leadership to co-operate on economic reforms needed to secure an aid plan for pulling the country out of its financial crisis.

In a letter sent this weekend to the fund, Viktor Yushchenko, president, pledged to put aside differences with Yulia Tymoshenko, premier, and other rivals and adopt the rescue programme. "Time is against us. [But] with this step Ukraine is demonstrating its readiness to resume dialogue with the IMF," Mr Yushchenko said.

Welcoming the news, Ceyla Pazarbasioglu, the IMF mission chief, told the Financial Times: "For anybody who knows Ukraine, this is progress."

“Basing on these discussions we hope to come back to Kyiv the next weeks…We expect continuation of aour talks with the authorities next week to make the come back happen,” she added.

She also reminded that the key subjects udner consideration are monetary policy, currency rate and realistic budget position for 2009.


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