Ukraine National Bank sees no alternative to cooperating with IMF

16:40, 13 November 2017

Deputy Governor of the National Bank of Ukraine (NBU) Oleh Churii says it is critical for Ukraine to continue cooperation with the International Monetary Fund (IMF) until the end of 2018, as well as to introduce a new cooperation program.


"The cooperation with the International Monetary Fund, meaning not only cooperation until the end of 2018, but also a new IMF program, are extremely critical for Ukraine because this guarantees reforms and macro-financial stability," the official told a Ukrainian TV channel.

UNIAN memo. In March 2015, the IMF approved a four-year EFF loan program for Ukraine under which $17.5 billion will be disbursed. Ukraine has already received four disbursements from the Fund to the tune of $8.7 billion.

In late October, the central bank announced the forecast that the next IMF loan tranche under the Extended Fund Facility (EFF) program would be received in the first quarter of 2018, and not before the end of this year, as previously expected.

At the same time, Ukrainian Finance Minister Oleksandr Danyliuk said that Ukraine could still receive the next IMF tranche this year if the parliament passes the necessary bills.

The work of an IMF technical mission to discuss the draft national budget of Ukraine for 2018 is underway. The mission will stay in Kyiv on November 9-17.

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