DAVOS, Jan. 25 - Ukraine has every chance of resuming International Monetary Fund financing at the end of the first quarter or at the beginning of the second quarter, and it should use it to reduce the cost of financing and attract foreign investment into the country, former Finance Minister and Director of Morgan Stanley Ukraine Ihor Mitiukov said.

"Ukraine can reach agreement with the IMF. This, of course, will influence not only the price of borrowing, but also open the door to private investment, which [Ukraine] now catastrophically lacks, as the previous sources of economic growth are now almost exhausted," he told Interfax -Ukraine on the sidelines of events organized by the Victor Pinchuk Foundation as part of the World Economic Forum in Davos.

Mitiukov said that this year's budget was rather tough and that it was unrealistic to expect such an impact on investment from it as last year. He said that only investments and new jobs could ensure real growth.