Business Services Industry

UKRAINE: IMF UNCERTAIN ABOUT LOAN RESUMPTION TO UKRAINE.(Brief Article)

IPR Strategic Business Information Database, December, 1999

IMF official John Odling-Smee said in Kyiv on 4 December that the IMF has not yet decided whether to resume the $2.6 billion loan program suspended in September, Interfax reported. Ukraine has so far received $965 million under the program. The IMF makes further credits conditional on economic reform and liberalization in Ukraine.

"Ukraine's economy is over-regulated, over-licensed and over- inspected," AP quoted Odling-Smee as saying. IMF Managing Director Michel Camdessus is expected in Kyiv on 17-18 December. Deputy Prime Minister Serhiy Tyhypko said Ukraine can count on the IMF's next tranche of some $300 million no sooner than in February 2000, according to Interfax. JM Copyright (c) 1999. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty

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