Yulia Tymoshenko: IMF credit enables Ukraine to stabilize financial situation and banking system and inject real money into economy

Prime Minister Yulia Tymoshenko considers the IMF credit for Ukraine a big victory. She stated in an interview to journalists. According to her, such decision has been approved on the basis of agreements achieved between the Government, NBU and IMF.

The PM said that IMF credit would allow to stabilize completely financial situation in Ukraine and inject the Ukrainian economy with real money and stabilize banking system. “I think it’s a big victory because these credit resources which we have obtained are the cheapest as one can only image,” the Head of Government stated.

Yulia Tymoshenko reminded that US$16.4 billion credit is granted at 4 percent interest per annum and for broad term. According to her, the provision of such credit is evidence to Ukraine’s ability to work efficiently and agree with the world financial organizations.

The Prime Minister thanked the IMF leadership, Mission Chief for Ukraine for fruitful and efficient cooperation with Ukraine. At that she stressed that the IMF for the first time in its practice had approved a credit under the Fund's fast-track Emergency Financing Mechanism, “We are grateful for such fast response to Ukraine’s appeal”.