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Today, when the presidential elections in Ukraine are over, the International Monetary Fund announces its readiness for further cooperation with the country: the IMF’s representative in Ukraine Max Alier informed on that at yesterday’s investment conference in Kiev.

Certain requirements still remain, however. One of the most important is decreasing the state’s budget deficit in 2010, followed by normal conditions in the financial and banking sectors of the economy.

He also informed that that there had been a telephone conversation between the new Ukraine’s president Viktor Yanukovych and the International Monetary Fund’s government, during which the international organization’s readiness for further cooperation with Ukraine was sounded.

According to the Ministry of Finance, arrival of the IMF’s visiting team is expected on 7 April, 2010. The team will work on a new draft of Memorandum between Ukraine and the International Monetary Fund.

In November 2008, the IMF approved the decision to issue a long-term stand-by credit to Ukraine for the amount approximately 16.4 billion USD. Since the beginning of 2008, Ukraine has received already three receipts for 12 billion USD in total. The forth one (3.8 billion USD) was expected in last year’s November. Issuing of the forth part of the credit was expected upon results of the program’s review. The IMF’s visiting team finished its work at the end of October and left without any positive reports made on what they had found out during the inspection.

A bit later, the international organization informed that it was possible to restart their cooperation with the country, but only upon completion of the anti-crisis program set by the Ukraine’s government and approval of the country’s budget for 2010.

On January 2010, head of the IMF Dominique Strauss-Kahn expressed his strong confidence that cooperation would be renewed once the presidential elections were over.

Source: http://economics.unian.net