IMF unlikely to reach agreement with Ukraine in 2013, says S&P

16:37, 28.05.2013 1 min read

The International Monetary Fund (IMF) is unlikely to come to an agreement with Ukraine in 2013, director of sovereign ratings at S&P (Standard & Poor's international agency) Trevor Cullinan has said.

He was speaking during an S&P conference in Kyiv on Tuesday.

Cullinan also said that the need to pay out essential funds to service the foreign debts of the Ukrainian government will remain until 2017: the lack of opportunities on the foreign borrowing market for the Ukrainian authorities puts pressure on the sovereign rating of the country.

Talking about exchange rate prospects, the expert said that the fundamental basis for the devaluation pressure on hryvnia remains the same, though there is some fall in such pressure. The rating agency retains its forecast of the exchange rate until the end of 2013 as UAH 9 per dollar, but the probability of its being achieved has lessened.