KIRV, Nov. 6 - Deteriorating exports, limited external financing and a credit crunch will lead to a 3% decline in Ukraine's economy next year compared to this year's 6% GDP growth, the International Monetary Fund forecasts.

The IMF said this in a statement about the approval of a $16.4 billion stand-by loan to support of Ukraine's two-year anti-crisis program.

"Under the program, inflation is expected to decrease to 17% by end-2009 from the projected 25.5% this year.