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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology IMF demands Ukraine veto new wage, pension law AFP - Monday, October 26 Send IM Story Print International Monetary Fund (IMF) envoy Ceyla Pazarbasioglu shakes hands with Ukrainian President Viktor Yushchenko prior to talks in Kiev on October 17. The IMF demanded Ukraine's government veto a wage and pension law passed this week by the country's parliament, saying it was at odds with an IMF support programme. WASHINGTON (AFP) - – The International Monetary Fund demanded on Sunday that Ukraine's government veto a wage and pension law passed this week by the country's parliament, saying it was at odds with an IMF support programme. The IMF said Ukraine's economic and financial situation was "stabilizing" under the support program, but "corrective actions" were needed in some areas. The IMF assessment followed a visit to Kiev by an IMF mission that held talks with the finance ministry and the national bank, and secured an agreement with them on the corrective actions that would be needed. "The mission 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 IMF said. Ukraine, one of the hardest hit European countries by the global economic crisis, faces a 15 percent contraction of its economy this year. But the World Bank earlier this month forecast that it will grow 2.5 percent next year on the strength of a global economic recovery. "The mission found that the economic and financial situation in Ukraine is stabilizing as a result of policies under this program," the IMF said. "Preserving these gains will require policy discipline and corrective actions in some areas," it said. Recommend Send IM Story Print News Search Top Stories IMF demands Ukraine veto new wage, pension law Thousands eat breakfast on Sydney Harbour Bridge Recession or not? US economy likely to be in limbo New German government to slash taxes Obama declares swine flu emergency More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Obama declares swine flu emergency Recession or not? US economy likely to be in limbo Europe swine flu spreads, 'millions' infected in US New German government to slash taxes Icahn resigns from Yahoo! board More Most Viewed » Boyzone singer Gately dies in Spain Mobile phone giant Nokia sues Apple over patents More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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