Ukraine negotiates with IMF on long-term program, - Finance Minister

Source : 112 Ukraine

According to Markarova, the government to sell more debt on international markets in 2019
14:28, 25 June 2019

Oksana Markarova, Ukraine's Finance Minister
Open source

Ukraine holds a very active discussion about new credit program with the International Monetary Fund due to the preparation for snap elections, as Bloomberg reported citing Finance Minister of Ukraine Oksana Markarova.

According to Markarova, with investors keen on Ukraine’s domestic bonds, the government does not need to sell more debt on international markets in 2019. It sold 1 billion euros ($1.1 billion) of debt this month.

Related: Zelensky promised to deal with IMF, ask Ukrainians about NATO, but did a 180

Commenting the trial on PrivatBank, which was nationalized in 2016, Markarova said that the government will continue to defend its position toward ex-owner Ihor Kolomoysky.

“We obviously have a lot of court cases, in Ukraine and outside - you can’t always win all of them,” she said.

According to her, the state does everything possible to build normal corporate governance in the bank.

“We’ve done everything to restore normal banking practices and the bank is developing”, Markarova noted.

Related: Ukraine not going to announce default, give up IMF cooperation, - Zelensky's advisor

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 would 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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