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IMF discusses new three-year program with Ukraine

The discussion of the new program may continue in the coming weeks
09:51, 27 September 2019

President's press service

The International Monetary Fund has finished its mission in Ukraine. Its representatives have started to discuss with Ukraine the possible beginning of a new program for three years as the IMF reported.

The IMF noted that after the elections Ukraine got the possibility to promote the necessary reforms to increase the level of life keeping the macro-financial stability.

Related: Ukraine to conclude agreement on $ 5 billion IMF loan, - Bloomberg

Ukraine asked to create a new program supported by the IMF, which will allow to cover the needs in financing for the next years.

“The mission started discussions on a new 3-year arrangement that could be supported under the IMF’s Extended Fund Facility. The mission has had productive discussions on policies for a new program these last two weeks, especially on fiscal and monetary policies, as well as key reform measures. It also underscored the importance of central bank independence and safeguarding financial stability, as well as the need to make every effort to minimize the fiscal costs of bank resolutions,” the message said.

The discussion of the new program may continue in the coming weeks.

Related: Zelensky discusses further energy sector reforming with IMF representatives

Earlier the Cabinet of Minister reported that Ukraine-IMF talks concerning the new cooperation program are in active stage.

However, Finance Minister of Ukraine Oksana Markarova stated that the new Cabinet intends to work to ensure that this cooperation program with the International Monetary Fund is the last and Ukraine can "live without loans."

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