Kiev is certain that massive tranches are capable to level off the situation in Ukraine. The government is engaged in negotiations visiting experts of the International Monetary Fund for their advice. The talks are focused on the schedule of the long-term and large-scale bailout program, according to Ukraine’s Finance Minister Natalia Yaresko. Importantly, the initiative of Kiev’s officials is supported by Christine Lagarde, the Managing director of the IMF. Thus, her approval is a weighty argument for the positive outcome. In parallel, Ukraine’s Finance Ministry is getting ready for the talks with other affluent creditors. Such bailout programs are aimed at improving long-term solvency of the ailing Ukrainian economy. Kiev compares itself with Greece and believes that financial injections into Ukraine are great lower than loans allocated to Greece’s budget. So, Ukrainian finance minister thinks that the budget needs $15 billion. “This money is not difficult to collect,” Mrs. Yaresko made a comment. She considers Ukraine to be “a good lendee”. Earlier, Prime Minister Arseniy Yatsenyuk said that Kiev would have to pay off debts of $11 billion in the current year. However, Ukraine’s gold and forex reserves hardly exceed $8 billion. Moreover, Kiev could be facing the challenge of paying off the credit to Moscow before the maturity date. In December 2013, Russia purchased Kiev’s treasuries worth $3 billion to mature in 2015. Russia’s Finance Minister Anton Siluanov mentioned that the Kremlin could demand that the credit should be repaid in advance.
