The FINANCIAL — The International Monetary Fund expects President Viktor Yuschenko to impose veto against a law increasing social standards in Ukraine.
Ukrainian News learned this from a statement by the International Monetary Fund.
"The mission [of the International Monetary Fund] is now awaiting endorsement of the agreed policy package from the signatories to the program – the President, the Prime Minister, the Minister of Finance, and the Governor of the National Bank – including assurances that the wage and pension law approved by Ukraine's parliament, the Rada, this week, which is at odds with the objectives of the authorities' program, will be vetoed," the statement reads.
According to the statement, the mission has found that the economic and financial situation in Ukraine is stabilizing as a result of policies under the stand by program.
According to the statement, preserving these gains will require policy discipline and corrective actions in some areas.
"In its discussions with the Ministry of Finance and the National Bank of Ukraine, the IMF mission reached staff-level agreement on such actions, and it has departed Kyiv," the statement reads.
As Ukrainian News earlier reported, the Verkhovna Rada fixed the minimum wage (which is now UAH 669 per month) at the level of UAH 744 from November 1, 2009; at UAH 869 from January 1, 2010, at UAH 884 from April 1, 2010; UAH 888 from July 1, 2010; UAH 907 from October 1, 2010; and at the level of UAH 922 per month from December 1, 2010.
Earlier, the International Monetary Fund expressed its concerns with the Verkhovna Rada's raising the minimum wage.
On October 12, experts of the IMF mission arrived in Kyiv. IMF mission head Ceyla Pazarbasioglu arrived in Kyiv on October 14 to meet with the Ukrainian authorities.
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