KIEV, Dec. 17 - "Stability-oriented fiscal and monetary policies, a stronger monetary and financial sector policy framework, and progress on structural reform are needed to help Ukraine achieve high growth with low inflation and improve the living standards of all its citizens," said the International Monetary Fund Resident Representative office in Kiev following an IMF mission's visit to Kiev on Dec. 11-14.

"there are near-term challenges. First, inflation is on the rise. Moreover, the current account position is eroding, and further deterioration in the years ahead - gas import prices may rise further and world steel prices may fall forward their long-term real average - could raise external financing risks," said the IMF.