IMF downgrades Ukraine’s 2009 GDP and budget deficit forecasts

Following the announcement on the provision of the third tranche of the standby loan, the IMF said that it downgraded its forecast for the drop in Ukraine’s GDP from 8% to 14% in 2009 and that it now foresaw a larger budget deficit, 6% of GDP (vs. the 4% it previously expected). The 2009 CPI growth forecast was improved to 13% from 16% previously.