Ukraine`s financial system is working well and the country has no need to alter its current relations with international financial organisations, Prime Minister Yulia Tymoshenko said on Tuesday, Reuters reported. Tymoshenko, addressing a news conference, was responding to a question about comments by a senior International Monetary Fund Official in Washington that Ukraine was seeking a funding programme.

"As far as our cooperation with international financial organisations is concerned, everything is proceeding in a calm fashion and according to plan," she said.

"There is no need to speed things up or to engage in extraordinary actions. Our country is operating according an absolutely normal financial regime."

The IMF official, speaking to Reuters on condition of anonymity, said: "Ukraine indicated over the weekend it intends to request an IMF programme."

The step appeared to be targeted at bolstering confidence in Ukraine`s banking system. On Monday, Ukraine`s central bank capped banks` assets at their current levels, curbing their borrowing and lending to stabilise the banking system.

Reuters