Government negotiating with World Bank

The Cabinet of Ministers of Ukraine is holding negotiations with the World Bank concerning partial payment of the services of Blackstone Group International and Credit Suisse as financial advisers of the Government in the issues of restructuring and recapitalization of the banking sector. The First Vice Prime Minister of Ukraine Olexandr Turchynov claimed in his comments to journalists. “Negotiations with the World Bank are being held to minimize the burden on the budget,” the First Vice Premier emphasized.

Olexandr Turchynov expressed his belief under the world financial crisis, which involved

Ukraine

either, drawing of these companies as advisers proves necessary. According to him, these companies are to tackle the issues of servicing of the foreign debt and analysis of financial situation in

Ukraine

. “They will also assist in holding talks with creditors of the state enterprises that wish to return their loans ahead of schedule under the world financial crunch,” the First Vice Premier explained.

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