Ukraine may launch new cooperation program with IMF at the end of 2019, - official

Source : 112 Ukraine

The Presidential Administration thinks that Ukraine will be obliged to fulfill the current commitment before Fund anyway
16:59, 13 June 2019

Open source

Ukraine works on the preparation to the possible launch of the new cooperation program with the International Monetary Foundation for 3-4 years at the end of 2019 as NV.Biznes reported citing Deputy Head of the Presidential Administration Oleksiy Goncharuk.

“We really have begun to think about a new program with the IMF for 3-4 years to make it possible to launch it at the end of a year; if the necessary conditions appear. We will try to create the structural reforms in it and they will lead the country to a quality new level,” Goncharuk said.

According to him, there are good start conditions for the new program.

“During the last 14 quarters, the economy steadily; however, not very rapidly, but grows. We observe the acceptable level of the inflation and growth of the reserves. During five years we grow in Doing Business rating. Besides, positive expectations are held in the markets. Globally, the investors suppose that Ukraine will move in the direct direction and expectations from us are positive,” Goncharuk stated.

Related: IMF representatives meet with members of National Anti-Corruption Bureau of Ukraine

At the same time, he noted that it is necessary “to work good in summer and autumn” to keep financial stability.

Deputy Head of the Presidential Administration also added that the commitment of Ukraine within the IMF program should be fulfilled. It is necessary to justify the confidence from the side of the international partners.

“Concerning the cooperation with the IMF, it is extremely important for us as the country. We have quite long-term relations with the Fund and we have the commitment before it as well as before many other international partners. The proper fulfillment of the commitments is relevant for Ukraine and it is even not money issues, the issue is more about trust. So, all systemic investors in the world follow closely our cooperation with the Fund,” Goncharuk emphasized.

Earlier the IMF confirmed the readiness to come to Kyiv for the continuation of the negotiations after snap parliamentary elections. It will happen as soon as the new government will define the priority of its policy.

New Secretary of the National Security and Defense Council Oleksandr Danylyuk stated that the new Ukrainian government will carry on in terms of cooperation with the IMF. He also denied the information about IMF mission leaving Ukraine due to the Parliament's dissolution. 

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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