IMF talks in danger unless Ukraine parlt acts -speaker

Fri Oct 24, 2008 2:37pm BST
 
Email | Print | | Single Page
[-] Text [+]

By Yuri Kulikov

KIEV (Reuters) - Ukraine's talks to secure credit from the International Monetary Fund could collapse unless parliament acts to pass measures to ease the effects of the global financial crisis, the chamber's chairman said on Friday.

A package proposed by the government calls for amendments to the 2008 budget, borrowing of $2 billion from unnamed international financial institutions, sovereign guarantees to firms seeking foreign credit and creating a stabilisation fund.

"It is very important for us to achieve results in a vote on the financial crisis," Arseniy Yatsenyuk told the chamber, which was deadlocked for the fourth day.

"Failure to get a result will have as a consequence the collapse of talks with international financial organisations."

An International Monetary Fund mission has been holding talks for more than a week in Kiev on extending credit that Ukrainian officials say could amount to up to $14 billion.

The Fund has offered no comment on the talks, but says the mission will to remain in Kiev "as long as is required."

Yatsenyuk said no consensus could be reached on six draft laws to tackle the crisis, including the package proposed by Prime Minister Yulia Tymoshenko's government.

A working group was set up to draft a document able to command a majority. Debate would resume next Tuesday.  Continued...

 
Zhu Zhu pet
Can I have one for Christmas?

The hottest toy in the U.S. this Christmas is an interactive hamster. It does not come from one of the major toy brands or from a movie but a small, seven-year-old company from Missouri.  Full Coverage 

Market Update

  • UKUK
  • USUS
  • Europe
  • Asia
  • UK Most Actives

Most Popular Business News on Reuters UK

  • Articles
  • Videos