The IMF is not the only pebble on the beach - Azarov

The Prime-Minister of Ukraine Nikolay Azarov has written on his Facebook page that Ukraine will continue negotiations with the IMF. The premier has answered the question of whether Ukraine has the other sources of credit, considering unacceptability of the conditions of the IMF for receiving the credit.

The premier replied, "Don't worry. Firstly, we will continue our negotiations with the IMF, we are patient and insistent people. And secondly, the IMF is not the only pebble on the beach."

As reported earlier, the board of directors of the key creditor or Ukraine - the International Monetary Fund - in the middle of December plans to discuss the issue of renewing the cooperation with Ukraine, including on the issue of possibility of financing by the Stand-by program in the amount of around 15 billion dollars.

On November 21 the Prime-Minister of Ukraine Nikolay Azarov reported that he had received a letter from the IMF outlining the conditions for further cooperation, which were not acceptable for Ukraine.

"The conditions: increase of tariffs for gas and heating for the population by around 40 percent, obligations of freezing the base wage, minimum wage, general nominal wage at the current level, substantial decrease of expenses for the budget purposes, decrease of subsidies in energy sector, gradual

cancellation of VAT exemption for the agriculture and the other industries and other conditions," Azarov quoted the letter from the IMF.

Later the deputy prime-minister Yury Boiko said that Ukraine was not counting on receiving the funds from the IMF because the fund made conditions unacceptable for Ukraine, specifically, increase of the gas tariffs.

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