Home Add to Favorite Contact Submit  
           14 May, 2021

Category:  Press » Finances


IMF Approves 1.5 Billion USD Disbursement for Ukraine

         Views: 1185
2010-12-23 05:20:18     
Worldwide News Ukraine

The Executive Board of the International Monetary Fund completed its first overview of the economic performance of Ukraine under the Stand-By Arrangement. Positive results of the review lead to an immediate appropriation of a tranche, worth 1.5 billion USD.

"The authorities remain committed to timely implementation of fiscal, energy, and financial sector reforms that are essential to achieve program objectives", stated John Lipsky, First Deputy Managing Director and Acting Chair of the International Monetary Fund (IMF).

IMF resumed its cooperation with Ukraine in July, 2010. At that time the disbursement of total 15.3 billion USD was approved. The disbursement was aimed at support of the economic adjustments and reform program in Ukraine. Ukraine received the first tranche in August, 2010. In order to be entitled to the disbursement, Ukrainian leadership has adopted the new Tax code, and working on introducing the pension reform adopting the state budget with deficit below 3% of the GDP. The substantial part of the second tranche is meant to cover the budget deficit.

In December, 2010, the Ukrainian parliament adopted a draft Memorandum to be sent to the IMF. The provisions of the document have not been made public yet.

In his official statement on the IMF's web-site, John Lipsky underlined that "longer term fiscal sustainability depends crucially on structural reforms in the areas of pension, public administration, and state-owned enterprises. In this regard, the timely approval and implementation of the pension reform legislation submitted to parliament will be key".

Acting Chair of the IMF praised Ukraine's recent steps to strengthen the financial position of Naftogaz, state gas and oil monopoly, on a way to making the county's energy sector more transparent.

Recently, Ukraine undertook a number of steps aimed at reforming the country to meet the European standards, namely adopting the new Tax code, adopting a draft law on pension reform, adopting a draft law on anticorruption measures, launching administrative reform by optimizing the executive branch of the state.

Specialized in: Imf - Approves - Disbursement - Ukraine
Print press release      Bookmark this page
Related Press releases 
Connecticut Business Insurance Brokers Discuss General Liability Coverage (Popularity: ): Norwalk, Connecticut (press.abc-directory) September 30, 2020 - The Connecticut business insurance brokers at JMG Insurance Agency recently released a new informational article that answers the question, "what does general liability insurance cover?". The new blog can be found on the company's website. The information in the article is guided by the insurance agency's extensive professional experience handling general liability plans and ensuring their clients are properly and comprehensively covered. Their ...
FinAcc Global Introduced Financial Reporting Services for Manufacturing Industry (Popularity: ): Arlington,texas-- September 10, 2020 -- It has been an immense pleasure to announce that FinAcc Global is now offering financial reporting services for manufacturing industries. FinAcc Global presents accurate yet customized financial statements and reporting services that help manufacturers to make informed decisions. The company aims to prepare financial reports that help their clients expand their business growth with increased revenue. Moreover, they follow a distinct process while working on ...
FinAcc Global launches accounting services for telecommunication businesses. (Popularity: ): Arlington, Texas-- September 2, 2020 -- It has been an immense pleasure to proclaim that FinAcc Global, an accounting outsourcing company, launches specialized accounting services for telecommunication businesses. The outsourcing firm aims to deliver flexible and integrated finance accounting solutions that help the industry to overcome many challenges.FinACC Global presents comprehensive accounting services for the telecommunication industry with 100% data security and confidentiality. With the flexible engagement model and technology-enabled ...
Nelito Systems Ltd. appoints Mr. Sanjay Dube as the new Chief Executive Officer (Popularity: ): Navi Mumbai, July 08, 2020 – Nelito Systems Ltd. (Group Company of DTS Corporation, Japan), announced that Mr. Sanjay Dube has been appointed as the Chief Executive Officer.Mr. Sanjay Dube, prior to joining Nelito looked after the Fuel, Logistics and Land vertical for The Tata Power Company Limited. Prior to that, he looked after Strategy and Performance Analysis and before that, he looked after Treasury, Investor Relations and Corporate Finance, ...
CortiCare strengthens its management team by bringing on Aron Stern as CFO (Popularity: ): CARLSBAD, Calif. - January 14, 2020 -- CortiCare, Inc., a leading provider of technology and electroencephalographic (EEG) services to the hospital and physician office markets, today announced that Mr. Aron Stern has joined the company as its Chief Financial Officer. Stern will oversee the company’s finance team, as well as management of cash flow, financial planning, M&A activities, and profitability.“CortiCare has grown to a stage where more advanced financial management and ...

Related Business 
Trelleborg Sealing Solutions (Popularity: ): Trelleborg is a world leader in engineered polymer solutions that seal, damp and protect critical applications in demanding environments. Its innovative engineered solutions accelerate performance for customers in a sustainable way. The Trelleborg Group has annual sales of about SEK 21 billion (EUR 2.3 billion, USD 3.2 billion) in over 40 countries.
Currency Converter Calculator Online (Popularity: ): USD Currency Calculator! We aim to provide you with quick and easy currency conversion for the most popular USD conversions including CAD, GBP, CNY, JPY, and more! See our most popular USD conversions for more information on each individual currency and its conversion to the USD. USD Currency Calculator is your exchange-rate source with a constantly-updated matrix of the most popular USD conversions. When you need to know your buying ...
IMF Dissemination Standards Bulletin Board (Popularity: ): Facilitates technical cooperation in the public dissemination of economic, financial, and socio-demographic data provided by the IMF.
Study in Ukraine (Popularity: ): A resource of information on getting education in Ukraine. They have many resources available to stay in Ukraine to go to a University in Ukraine and everything you need to get started. Capital Kyiv (Kiev). Territorial division 24 regions, Autonomous republic of Crimea, cities with the special status Kyiv and Sevastopol.
Ukraine Visa (Popularity: ): Located on the north coast of the Black Sea in Ukraine , a country that declared independence from Russia in 1991. Ukraine's capital Kiev is. Official language is Ukraince Country, Russian, known by everyone. Donetsk, Kharkiv and Odessa in Ukraine, the other major cities.
Best Forex Signals Service Online (Popularity: ): BuyForexSignals.com offers a currency trading system and 4x alerts easy to follow signals. Our currency trading system and investments forecast advisor service includes foreign exchange alert Recommendations in eur/usd, usd/chf, gbp/usd, usd/cad, investing and earn pips - previsioni valute, forex signals online.
Same Day Flower Delivery (Popularity: ): We are one of the best Ukraine Florists that will undertake Flower Delivery to Ukraine to your loved ones. Send Flowers Ukraine along with toys and gifts and make the day memorable and cherishable for someone. We have many attractive and exclusively designed Gift Basket Ukraine which you can send along with the bouquet of flowers to express your love and care. To Order or know more please visit our ...
Study in Ukraine (Popularity: ): To study in Ukraine offers information and prime services for students wishing to pursue higher education in Ukraine. In depth admission and travel logistics.Easy and affordable university education from quality Ukrainian universities. An excellent for international students seeking quality and affordable university education in Ukraine, Europe.
Cheap digitizing and vector (Popularity: ): We have 15 years of digitizing experience.The price is only $2.00 USD per 1000 stitches. The minimum is $10.00 USD and the maximum is only $120.00 USD. The turnaround is 24 hours. Computer embroidery that is, by the computer embroidery machine, automatic embroidery patterns in the garment material processing, to clothing decorative effect. As the pattern beautiful, durable, low cost, are favored by the fashion industry. embroidery digitizing is not ...
Forex Analytics (Popularity: ): Trading resources for forex traders. Daily high/low projections and trading comments for EUR/USD and USD/JPY.