IMF notes constructive dialogue with Kyiv on $5.5 bln program

The International Monetary Fund (IMF) is maintaining a very active dialogue with Kyiv on a new Extended Fund Facility (EFF) and calls it constructive.

Director of the IMF Communications Department Gerry Rice said this at a briefing in Washington on February 13, according to an Ukrinform correspondent.

"Very active dialogue is ongoing right now [...] in the context of the IMF program agreed with Ukraine last December for $5.5 billion," Rice said when asked by Ukrinform whether a delay in the land reform in Ukraine could affect the new program.

He called the discussions with the Ukrainian side "active and progressing" and added that "we hope to keep pushing forward the progress."

Rice stressed that the approval of the EFF program for Ukraine remains "is subject to approval by our Board." However, he could not specify a date for a meeting on the Ukrainian issue. He recalled that Ukraine must fulfill a set of prior actions.

"The main focus of this program, maybe three or four points. Strengthening the rule of law and tackling corruption, enhancing competition, opening up markets, reducing the role of the state and oligarchs. Continuing with prudent fiscal policies to ensure medium-term sustainability and ensuring central bank independence and financial stability," Rice said.

According to him, those are the "main areas that are under discussion." At the same time, he said that the discussions are active and constructive.

In early December 2019, Ukrainian President Volodymyr Zelensky had a phone call with IMF Managing Director Kristalina Georgieva. The parties discussed conditions for further cooperation and reached a preliminary agreement on a new, three-year Extended Fund Facility (EFF) worth $5.5 billion. At the same time, the IMF praised the "impressive progress" made by Ukraine in the past few months in advancing reforms and continuing with sound economic policies.


Related news

Government aid amid quarantine: what businesses and citizens should expect.

The Verkhovna Rada has passed a bill, submitted by government, on additional social and economic guarantees in connection with the coronavirus epidemic. Businesses assure that the measures being taken are not enough to get the country out of the c...

IMF program will open another intl financing for Ukraine – NBU head.

The National Bank of Ukraine (NBU) hopes for the final adoption by the Verkhovna Rada of a law on banks next week, which will allow receiving both the EFF program from the International Monetary Fund (IMF) and related financing from the World Bank...

National Bank not ready to lift restrictions on Ukraine's forex market.

The NBU has no plans to introduce any additional limits.

No grounds to impose currency restrictions - NBU

The National Bank of Ukraine (NBU) has said there are no grounds to impose currency restrictions despite the not very favorable macroeconomic situation in Ukraine, the central bank's press service has reported on Facebook, following an online ...

2 2

Experts: No prerequisites for grain deficit in Ukraine.

Analysts expect no rise in grain prices this season despite the global coronavirus pandemic.

By continuing to browse World News (UAZMI), you acknowledge that you have read the Terms of Use and agree to the use of cookies