The company has set up a network of specialists, with many years of overseas experience in the recovery of claims, especially in Africa, the Middle East, Eastern Europe, Latin America and South-east Asia. In February Ukraine failed to pay domestic loan bonds to local commercial banks. The government postponed the payments by decree until May and September. IMF officials said the government had pushed through enough fiscal reforms to qualify. The government revenues and administration were improved and the electricity prices raised.
Creditors admit the government's ability to repay is restricted.
The IMF agreement will make it easier for Ukraine to get support from the World Bank and others. Foreign debt payments will probably be rescheduled. Due to the continual financial crises of Ukraine, the international financial institutions do not want to borrow money in large amounts unless Ukraine reforms its economy. UN sanctions against Iraq In August this year the UN sanctions against Iraq have been imposed for nine years already. But the five permanent members of the Council are strongly divided.