Ukrainian officials to meet over IMF, EU loans

Leading Ukrainian officials are due to meet today to talk about reaching a consensus on issues that could pave the way for the resumption of a USD 16.5 bln loan program with the International Monetary Fund and a new EUR 610 mln loan from the European Union, Deputy Prime Minister Hryhoriy Nemyria said yesterday at a press conference. According to Nemyria, the meeting will include officials from the government, central bank and presidential secretariat. Ukraine was due to receive the fourth tranche of its IMF loan program this month, in an amount equal to roughly USD 4 bln, but IMF officials said they required political consensus on issues such as increasing social spending. President Viktor Yushchenko signed a bill that provides for such increases in 2009-2010 last week after it was passed by a majority in the Verkhovna Rada. Nemyria also said a new two tranche loan from the EU is on the line and will be possible only after cooperation with the IMF resumes.