Ukraine, IMF could agree on new program after parliamentary election

Source : 112 Ukraine

The negotiation process on revising the old program or considering a new program will start in June-August
12:50, 21 May 2019

Macroeconomics adviser of the Ukrainian President Volodymyr Zelensky Oleh Ustenko
Open source

Ukraine could agree with the International Monetary Fund (IMF) on the new financing program after the parliamentary election. This was announced by the executive director of Bleyzer Foundation and the macroeconomics adviser of the Ukrainian President Volodymyr Zelensky Oleh Ustenko, as Interfax-Ukraine agency reports.

“After the election to the Verkhovna Rada, we could, perhaps, open a new program. I suppose that negotiation process concerning this or concerning the revision of the old program will start in June-August,” Ustenko said.

The adviser also suggested there could be a possibility to prolong and revise the parameters of the current financing program

“I have in mind two variants of development: the program will be closed and a new one will be started or the current program will be revised and it will be prolonged. However, the first variant is the main one,” Ustenko noted.

Related: IMF, G7 concerned about court's decision on PrivatBank case

The IMF mission arrived in Ukraine on May 21. It will work here for two weeks. The mission will assess the implementation of the current cooperation program with Ukraine under the stand-by system and hold consultations under article No. 4 of IMF statute.

Earlier, President of Ukraine Petro Poroshenko had a phone conversation with Christine Lagarde, the Managing Director of the International Monetary Fund, during which she expressed the concern concerning the court’s decisions on the nationalization of the PrivatBank.

In December 2018, the IMF Directors Board approved the 14-months-long of cooperation with Ukraine within the stand-by program. The overall sum of loans makes 3.9 billion U.S. dollars, which makes 139 percent of the quote of Ukraine in the Fund.

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