KIEV, April 2 – Ukraine’s high pace of inflation this year was “unacceptable” and was likely to hit 17% on the year in December, according to the International Monetary Fund.

"The level of inflation is unacceptably high,” the IMF said in a statement.

Robert Ford, the head of the IMF team, said Ukraine’s economic growth will slow down in 2008 to 5.6%, compared with 7.3% expansion reported in 2007.