IMF mission completes visit to Ukraine without opening new program

Discussions on this issue will continue in the coming weeks
17:57, 23 November 2019

President's press service

The mission of the International Monetary Fund, had been working in Ukraine from November 14 to 22, announced constructive and fruitful discussions with representatives of the Ukrainian authorities. However, to conclude an agreement on a new program (Staff Level Agreement), it will be necessary to continue discussions in the near future.

"The IMF team of experts held constructive and fruitful discussions with representatives of the Ukrainian authorities. ... The mission has made significant further progress in discussions on measures and reforms that could form the basis of a new program supported by the IMF. Discussions will continue in the coming weeks," the statement of the mission reads.

According to the document, among the necessary steps discussed are measures in the monetary, fiscal and financial sectors, as well as reforms aimed at improving the business climate, strengthening the rule of law and boosting economic growth.

The statement notes that the IMF mission paid tribute to the significant progress made over the past few months towards reform and adhering to a balanced economic policy.

At the same time, the source of the Novoye Vremya reported that oligarch Igor Kolomoisky and the independence of the National Bank are two main issues for the IMF.

The newspaper also noted that any compromise with the former owners of PrivatBank is unacceptable.

As reported, Ukraine is negotiating the possibility of opening a new 3-year program of expanded financing for $ 5-6 billion.

Related: EBRD to provide financing for reconstruction of Kyiv-Odesa highway


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