UKRAINE TO USE IMF FUNDS FOR REFORMS, NOT WAGES.

After talks in Washington with the International Monetary Fund’s management, Ukrainian prime minister Pavlo Lazarenko said that nine credit programs to support Ukrainian economic reforms, including a currency stabilization credit, were agreed upon in principle. Lazarenko expects the credits to tide Ukraine over into the next year. He assured the IMF that the credits would not be used for paying overdue wages–a use which Kiev had recently considered. (Interfax-Ukraine, July 27)

IMF Urges Broader Georgian Reforms.