KIEV, March 7 (Xinhua) -- The International Monetary Fund (IMF) is ready to provide financial and technical assistance to Kiev, the fund's senior official said Friday.
"The IMF stands ready to help the people of Ukraine and support the authorities' economic program to put Ukraine firmly on the path of good economic governance and sustainable growth," said Reza Moghadam, director of the IMF's European Department, in a statement.
Moghadam, who has been working in Kiev in recent days as a member of the IMF fact-finding mission, said he was positively impressed with the commitment of Ukrainian authorities to implement economic reforms.
On Tuesday, the IMF team started its 10-day mission in Kiev to make technical assessment of Ukraine's economic situation and hold talks with the authorities over a possible bailout.
Negotiations between Kiev and the IMF on the funding package had been underway since February 2011, after a previous 15-billion- dollar stand-by loan program was frozen.
Talks over the new loan stalled last April over Kiev's unwillingness to fulfill the requirements to raise gas prices for households and to set up a floating exchange rate.
The political crisis has cost Ukraine economically, as the country is facing a possible debt default. Ukraine needs some 35 billion dollars in aid to improve its economy, according to the country's Finance Ministry.