Ukraine's Poroshenko expects new IMF credit deal signed soon

KIEV, Feb 17 (PRIME) -- Ukraine’s president Pyotr Poroshenko expects Kiev and the International Monetary Fund (IMF) to sign a memorandum for a new credit program soon, the presidential press-service said in a statement late Monday.

“The president has informed us that the preparation of a new agreement with the IMF, which is aimed at ‘a rather ambitious strategy of reforms’, is close to finish. The leader expressed hope that the signing of the memorandum with the IMF will be occur soon,” the service said.

Poroshenko also said that Ukraine has made progress in reforming its economy and in fighting corruption, and expressed hope for further cooperation with the European Bank for reconstruction and Development (EBRD), the service quoted him as saying.

Earlier on Monday, Poroshenko held a meeting with EBRD President Suma Chakrabarti to discuss further cooperation.

IMF Chairwoman Christine Lagarde has said that the fund agreed to expand aid to Ukraine by providing $17.5 billion to the country for four years. The total size of financial aid to Ukraine from the IMF and other sources could amount to $40 billion in four years.

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