Ukraine considers changing format of work with IMF, - Finance Minister

Source : 112 Ukraine

The Finance Ministry offers that the Fund send money to the reserves of the National Bank of Ukraine, or render only technical aid
08:48, 20 January 2021

Serhiy Marchenko
Open source

The Ukrainian government plans to submit corrections in cooperation agenda with the IMF. Serhiy Marchenko, the Finance Minister said so in the interview with Austrian outlet Der Standard. The press office of the Ukrainian authority quoted him as saying.

"We still depend on good news from the IMF in 2021 in order to continue cooperation with the EU and the World Bank, to borrow money on the capital market - under acceptable call rates. But we wish to change the format of cooperation," the Minister said. 

Currently, the IMF provides funds, sending them directly to the state budget of Ukraine, in order to cover the deficit. Instead, the Finance Ministry offers the Fund to send money to the reserves of the National Bank of Ukraine or render only technical aid. The money will be available in case of an emergency. 

Related: Finance Ministry establishes Ukrainian Financial Housing Company

According to the Minister, the IMF is crucial as the creditor institution. Ukraine borrowed much money in the international financial markets, but on the current stage of development, the country still much needs IMF assistance.  

Related: IMF worried due to Ukraine's intention to cut gas tariffs for population, - Finance Minister

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