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IMF to approve new $ 5.5-billion worth program for Ukraine under certain conditions

Source : 112 Ukraine

The Fund's representative Jerry Rice admitted that the preliminary agreement is yet to be discussed
18:56, 12 December 2019

Jerry Rice
Open source

The date of the meeting of the IMF Directors Board on the approval of the new EFF cooperation program for Ukraine is unknown yet. But, anyway, before the program takes effect, Kyiv must live up to certain conditions. The Fund's representative Jerry Rice said so as quoted by the Interfax-Ukraine news agency.

The official said that the preliminary agreement on the new program of funding, which is yet to be discussed by the Board.

Previously, Ukraine and the IMF made the deal on the new cooperation program. The IMF agreed to assign 5.5 billion dollars for that purpose.

Related: IMF’s new program for Ukraine opens way to EU’s macro-financial assistance, - EU Ambassador

Chief of the National Bank of Ukraine (NBU) Yakiv Smoliy claimed that Ukraine could not sign the deal with the IMF by the end of the year. However, the NBU expects it to happen in the first quarter of 2020.

The IMF mission worked in Ukraine from November 14 till November 22. The sides negotiated about the new extended funding program that would take three years.

Related: National Bank expects signing of IMF program in first quarter of 2020

 

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