Ukraine

IMF tells Ukraine to pass "non-inflationary" budget

IMF tells Ukraine to pass "non-inflationary" budgetKiev - The International Monetary Fund (IMF) tightened screws on Ukraine's government on Friday, saying the former Soviet republic could receive critically-needed emergency loans only if it adopted a "realistic budget."

"We are willing to agree to a change in the (planned) size of the (Ukrainian) deficit," said Max Alier, director of the IMF mission to Ukraine.

But Ukraine's divided government must develop a budget "not based on inflation-generating measures," he added.

Gazprom mulls fresh gas cuts to Ukraine

Moscow - Russian gas export monopoly Gazprom warned it could again cut supplies to Ukraine in early March over 400 million dollars in new debt, a Russian newspaper reported Thursday.

Kommersant daily said new cuts were discussed at a board of directors meeting this week after Ukraine failed to pay for February supplies, an unnamed participant told the paper.

"If 400 million dollars is not paid on March 7, then on March 8 we will again have to cut off the gas to Ukraine," the insider quoted the head of Gazprom's finance department, Andrei Kruglov, as saying at the meeting.

IMF warns Ukraine on possible credit halt if loan terms not obeyed

IMF warns Ukraine on possible credit halt if loan terms not obeyed Kiev - The International Monetary Fund (IMF) warned Ukraine to keep to previously-agreed loan terms or risk a loss of badly-needed credits, a senior government spokesman said Monday.

"The fund is insisting all the money loaned us go to our banking system," said Oleskander Shapak, a top economic advisor for President Viktor Yushchenko.

Ukraine President Yushchenko meets returning pirate hostages

Viktor YushchenkoKiev - Twenty seamen held hostage for three months by Somali pirates arrived in Ukraine on Friday to be met by President Viktor Yushchenko.

The 17 Ukrainian, 2 Russian, and single Latvian seaman landed at Kiev's Borispyl airport after an eight-hour flight from Keyna.

Their ship, the MS Faina, docked in the Kenyan port Mombasa on Thursday. Pirates operating from Somalia's Puntland coastline had held the Faina's hostage since September 25.

Yushchenko and crew relatives met the seamen as they disembarked onto the runway. Some of the Ukrainians were wearing US-military issue fatigues.

Ukraine President Yushchenko comments on default, NATO

Ukraine President Viktor Yushchenko Kiev  - Ukraine President Viktor Yushchenko on Wednesday answered questions from a Deutsche Presse-Agentur dpa reporter in an exclusive interview. Following are Q&A excerpts:

Q: Will there be a default in Ukraine?

A: The real question is, how strong will our budgetary policy be? How realistic will it be? How ambitious will it be? And critically, will the budget be balanced? How much will we be able to make a strong, measured policy? That will determine whether or not we can service our obligations.

Ukraine could default if government policy unchanged

International Monetary Fund (IMF) LogoKiev - Ukrainian President Viktor Yushchenko on Wednesday warned of a potential default and financial crash, if the country's government continues "irresponsible populist policies."

Yushchenko in an exclusive interview with Deutsche Presse-Agentur dpa blamed Prime Minister Yulia Tymoshenko and her cabinet for failing to respond to the impact of the international financial crisis, placing Ukraine's economy on a road to disaster.

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