IMF urges Ukraine to implement agreed reforms
The International Monetary Fund on Monday urged Ukraine to put in place the agreed economic and financial reforms in order to resume a 15-billion-U.S. dollar aid program, according to Xinhua.
"We are expecting the Ukrainian government initiatives on the adoption and implementation of a number of specific measures. Once they have determined and will be ready to do this, we are ready to continue discussions on financing," IMF mission chief Christopher Jarvis told reporters.
Raising gas tariffs for households, increasing the flexibility of the national currency and ensuring the planned budget deficit are among the main preconditions for the new tranche, Jarvis said.
The IMF agreed in June 2010 to grant a stand-by credit of nearly 15 billion U.S. dollars to Kiev to tackle its economic problems.
Ukraine has already received more than 3.4 billion dollars in accordance with the arrangement. Further disbursement was frozen at the beginning of 2011 due to Kiev`s failure to meet IMF requirements.