OREANDA-NEWS. October 29, 2008. The Government insists on determining guarantees of the International Monetary Fund credit repayment aimed at maintaining the banking system of Ukraine. Prime Minister of Ukraine Yulia Tymoshenko stated in the Parliament while considering the bill “On minimization of the global financial crisis impact on the economy of Ukraine”.

“If the country in the person of the Government and National Bank borrow money we are obliged to guarantee their repayment,” she emphasized. The Premier noted that in this way the Government along with the National Bank of Ukraine should obtain a part of shares in those domestic banks which seek help of their own accord.

Yulia Tymoshenko reminded that credit which the International Monetary Fund intends to grant to Ukraine at the sum of US16.5 billion at 4% interest per annum would be provided for a long period. According to her, our state has not obtained such beneficial credits long ago.

Besides, as the Head of Government says, the terms of granting credit envisage that means not in use can be returned to the IMF paying no rates. Yulia Tymoshenko said that obtaining such financial resource would lay the foundations for Ukraine’s overcoming of the global financial crisis.