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Ukraine president appeals to IMF to approve credit

Published 11/04/2008, 09:58 AM
Updated 11/04/2008, 10:00 AM

KIEV, Nov 4 (Reuters) - Ukraine's President Viktor Yushchenko appealed to the IMF on Tuesday to give final approval to a $16.5 billion credit which it has already agreed in principle to help the nation weather the global financial crisis.

A statement on the presidential Web site said Yushchenko told IMF Executive Director Dominique Strauss-Kahn he was "counting on support from the IMF to overcome the effects of the world financial crisis on the country's economy".

Yushchenko issued his appeal on the eve of a meeting of the International Monetary Fund's board which is due to consider the credit. The IMF has made the loan contingent on legislation to stabilise Ukraine's finances and banking system being passed.

The president also called for help from the World Bank, which is considering a $500 million credit for Ukraine.

The Web site also said parliamentary chairman Arseniy Yatsenyuk had left for Washington to conduct "additional consultations" with the Fund. (Writing by Ron Popeski; editing by David Stamp)

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