IMF says mission to Ukraine made good progress

WASHINGTON -- International Monetary Fund Managing Director Christine Lagarde said

Ukraine Crisis

on Wednesday that its mission to Ukraine made good progress and the Fund is keen to help the country restore economic stability.

"We had a productive discussion regarding policies needed to put Ukraine on the path of sound economic governance and sustainable growth, while protecting the vulnerable in society," said Lagarde in a statement following a meeting with Prime Minister of Ukraine Arseniy Yatsenyuk.

"We also discussed the good progress made under the IMF's fact- finding mission that has been working in Kyiv since March 4. After finalizing its independent assessment of the economic situation in Ukraine, the mission will make recommendations to IMF Management, who will engage the Executive Board on the subsequent course of actions," Lagarde added.

The IMF chief also noted the Fund will continue to consult with its membership and other international financial institutions on how best to support the people of Ukraine.

On request of the Ukrainian authorities, the Washington-based global lender is in process of consultation with Ukraine on financial aid. The political uncertainty has cost Ukraine economically, as the country is said to be in dire financial straits, facing possible default. Ukraine needs around 35 billion dollars in aid to improve its economy, according to the country's Finance Ministry.

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