The macroeconomic situation is stabilizing in Ukraine, International Monetary Fund (IMF) Resident Representative in Ukraine Max Alier said at an annual conference organized by Fitch Ratings, NRCU reported.

He said that the fund's program of cooperation with Ukraine is rather successful. "We've managed to reach understanding. However, some people think that the IMF has come to resolve all problems, both political and social. In fact, we focused on restoring macroeconomic and financial stability," Alier said.

Since October 14, the Ukrainian government has started to discuss with the IMF the provision of the next tranche of the fund's loan as part of the Stand-By program. Ukrainian Prime Minister Yulia Tymoshenko said that she expects understanding from the IMF in reviewing clauses of the cooperation program. As reported, the IMF approved the Stand-By Arrangement with Ukraine in November 2008 in an amount equivalent to about USD 16.4 billion, and allocated the first disbursement of USD 4.5 billion.

On May 12, 2009 Ukraine received the second tranche worth USD 2.8 billion. Part of that tranche, worth USD 1.5 billion, was sent directly to the national budget of Ukraine to finance the government's external commitments. The third tranche amounted to USD 3.3 billion instead of the USD 3.2 billion as it was planned earlier. The fourth tranche worth USD 3.8 billion is expected to come before the end of 2009.


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