IMF mission arrives to check EFF progress (04/11/99)

IMF mission arrives to check EFF progress

Eastern Economist

KYIV - An IMF mission headed by Mohammed Shadman-Valavi arrived in Ukraine on March 30. Finance Minister Ihor Mitiukov said the mission "is a standard inspection of progress made in programs jointly prepared by the government and the IMF."

Mr. Mitiukov said that the mission would examine figures from the Extended Fund Facility (EFF) program, which was resumed on March 26, and outline actions for the next two months. Mr. Mitiukov added, however, that renewal of IMF loans to Ukraine within the EFF program, "Will not change anything." He explained, "Money from the EFF program will not be enough to compensate the expenses Ukraine incurred as a result of the five-month freeze on IMF financing to Ukraine."

Mr. Shadman-Valavi, for his part, commented, "IMF directors have noted the indecisive approach adopted by Ukraine toward energy and agricultural sector restructuring and administrative reform implementation." He was critical also of the government's tax-exemption policies.

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