KIEV (Reuters) - Ukraine needs cooperation with the International Monetary Fund and external borrowing due to its large debt burden, President Petro Poroshenko said on Friday.

"We could manage without external borrowing if we did not have to repay old debts," Poroshenko said in a speech at the Yalta European Strategy (YES) meeting in Kiev.

(Reporting by Natalia Zinets; writing by Matthias Williams)