IMF team visits Ukraine to evaluate economy

An International Monetary Fund (IMF) team, headed by Nikolay Gueorguiev, arrived here Thursday to assess Ukrainian economy.

During its 13-day technical mission, the IMF staff will take stock of the country's economic developments and hold talks with Ukrainian authorities on the issues of common concern, Xinhua reported.

The negotiations will focus on Ukraine's current macro economic situation, in particular the rising public debt and budget deficit, local currency exchange rate and the prospects for further cooperation between Kiev and the global lender.

With the country's budget deficit projected to hit 3.2 percent of gross domestic product this year and the public debt targeted at 38.5 percent of national output, Ukraine's economy risks falling into recession.

The latest round of talks was held in Washington Oct 10-13.