The IMF gives to Ukraine $16,5 billion

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Mission of the International Monetary Fund (IMF) and the Ukrainian authorities agreed about the credit of stand-by for a period of 24 months for the sum of SDR of 11 billion (about $16,5 billion) for support of the anti-recessionary program.

As they say in a press - IMF release on the Sunday, the corresponding statement the managing director of the IMF Dominique Stross - Kan made.

As it is noted in the message, the reached agreement is subject to the approval by Board of directors of the IMF which will consider this question after entering of necessary changes into the Ukrainian banking legislation.

According to the message, Ukraine developed a package of measures for support of the balance of payments in the conditions of collapse of prices of steel and the international financial crisis which led to problems for the Ukrainian financial system.

As it is noted in the message, the program of the Ukrainian authorities is directed on preservation of economic and financial stability by granting liquidity to financial sector and permissions of other problems, smoothing influence of external shocks and reducing inflation. At the same time the program has to prevent deep falling of production, having expanded possibilities of house farms and corporations.

D. Stross - Kan emphasized that the volume of this program is equivalent 800% of the Ukrainian quota in the IMF that testifies to high readiness of Fund to support the key measures directed on preservation of trust and economic, financial stability.


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