SDPU(o) leader Viktor Medvedchuk believes the IMF decision to resume loans to Ukraine under the extended financing facility (EFF) program is due to the nation’s considerable economic growth. He stated this in an UNIAN interview when asked to comment on the IMF decision to earmark US $375 million for Ukraine. Mr. Medvedchuk stressed that the IMF had repeatedly voiced its stand on the issue of extending credit. The decision is determined by the economic policy pursued by the state’s leadership, government, and Verkhovna Rada. The SDPU(o) leader pointed to double-digit growth in Ukraine’s economy in 2001. In the first eight months, GDP grew by 10.8% and industrial output by 16.9% compared to the same period last year. The NBU’s gold and hard currency reserves in August totaled $2.315 billion, which, with IMF tranches on the way, is a record high for the last four years. With such results at hand, inflation hit a record low of 3.3%, Mr. Medvedchuk stressed, recalling that last year inflation soared to 25.8%. He believes that compared to last year’s results this tendency is also indicative of considerable economic growth. “Add to this the trend toward constructive cooperation between the government and Verkhovna Rada and recall the stalemate with the Yushchenko government half a year ago. Without doubt, IMF experts have taken all this into account,” the SDPU(o) leader stressed.






