KIEV, July 6 – Cooperation with the International Monetary Fund improves the initial conditions for economic reforms in Ukraine, said Serhiy Tyhypko, Ukraine's deputy prime minister in charge of relations with the IMF, has said that.

"Cooperation with the IMF will allow the state and private Ukrainian borrowers to dramatically reduce the cost of external borrowing. In addition, talks on the allocation of funds from the World Bank, the European Union and the EBRD will be unblocked. After all, an agreement with the IMF will become a signal for foreign creditors that the economy is ready for the targeted use of foreign investment," Tyhypko said, the press service of the Strong Ukraine Party reported on Tuesday, while commenting on the IMF's readiness to provide a new loan of SDR 10 billion ($14.92 billion) to Ukraine under a new Stand-By Arrangement designed for two-and-a-half years.