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KIEV -- An International Monetary Fund mission arrived Monday in Ukraine to help the government work out a program to stabilize the economy, IMF representative Lawrence De Milner said.
The Ukrainian government pledged last month to work with the IMF over the next two months to clear the way for Kiev to receive a $700 million Systemic Transformation Facility, part of a special fund designed to speed the transition to capitalism for the countries of East Europe and the former USSR. This mission is the first to visit Ukraine with a mandate to negotiate a program, De Milner said.
Economic reforms are barely off the ground in Ukraine, 2 1/2 years after independence from the USSR. But President Leonid Kuchma has pledged to improve the economy. He met IMF managing director Michel Camdessus a week after his inauguration.
IMF Begins Its Mission to an Ailing Ukraine
16 August 1994
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