Ukraine to get next IMF tranche till 2012 anyway: expert

14:26, June 18, 2011      

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The International Monetary Fund (IMF) will give Ukraine the next tranche before the end of this year anyway, Ukrainian analyst Konstatnin Matvienko told Xinhua Friday.

Matvienko is an expert of the Ukrainian strategic consulting corporation.

"Neither Europe nor the United States of America or the International Monetary Fund are interested in destabilizing the Ukrainian economy. So I am sure that the next tranche to Ukraine will come soon, no matter whether Ukraine will implement all the IMF requirements or not," he said.

According to Matvienko, the pension reform, which is one of the obligations for IMF tranche, is needed more by Ukraine itself than by any international organizations.

"Certainly it is clear that Ukraine needs to increase the retirement age for its citizens. It should have been finished several years ago. Now it is painful for most people, but it is our reality," said the expert.

On Thursday the Ukrainian Parliament has approved the first of two readings of the pension reform bill needed to restart co-operation with the IMF. It involves raising the retirement age for women from 55 to 60 and reduction of high pensions.

On July 2010, the IMF approved a stand-by program of more than 15 billion dollars for Ukraine. Kiev has since received two tranches of funding. And at the beginning of 2011 the program was frozen. The main condition for its renewal is a reduction of Ukraine's budget deficit.

Source: Xinhua
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