Ukraine is rebounding

Ukraine, which was hit hard by the 2009 global recession, is rebounding “better than expected”, recording four per cent growth in 2010. Double-digit annual inflation levels seen in previous years decreased in 2010 to 8.2%.

But further talks are needed before the IMF can approve a fresh aid disbursement, according to Thanos Arvanitis, the fund’s mission chief for Ukraine.

Completing a two-week visit to Kiev, Mr Arvanitis said Ukraine’s economic programme was broadly on track, he said in a statement. But he stopped short of saying his mission would advise the IMF board to approve a third disbursement of EUR 1.1bn from a EUR 11.2bn loan package approved last summer.

Source: Financial Times, 15th of February