International Monetary Fund will be making a subsequent payment out of its emergency loan to Ukraine. The information has been disclosed by Prime Minister Mykola Azarov.

Azarov confirmed that he is hopeful of receiving full cooperation from the IMF, but he remained numb when asked about the amount which will be funded to them. The Government will try hard to reduce the budget deficit to the tune of 6 percent of the gross domestic product.

Due to the global crisis, which hurt the demand for its exports, the country forcefully accepted the loan amounting to $16.4 billion. The amount was partly used to cover the budget spending in order to remain in a positive economic shape.

A Ukrainian delegation which will be led by the Deputy Prime Minister Serhiy Tigipko will make an appearance in the IMF annual meeting from April 24 to 25.

Thanos Arvanitis, the Head of the Washington-based lender's mission said, "The IMF supports Ukraine's bid for a new program with the lender once the country receives all of the $16.4 billion stand- by loan payments".

There is an urgent necessity for Ukraine to have a new program in order to transform the economy. The Prime Minister is expecting to reach the growth rates prior to the downturn in next two and a half years.