Ukraine should follow reforms plan, it is not time to think about elections, - Lipton

Source : 112 Ukraine

If Ukraine decides to stop the reforms or to make the step back then it can lose all achieved advantages of the implemented changes
20:56, 17 October 2017


The authorities of Ukraine should focus efforts on the promoting forward within the plan of the reforms. First Deputy Managing Director of the International Monetary Fund (IMF) David Lipton expressed such opinion as Interfax-Ukraine reported.

‘First of all, Ukraine should follow the plan of the reforms and come to the agreement with us on the next reconsideration. The main issue is will be Ukraine possible to strengthen the stabilization and come over to the economic growth that will allow solving all its problems. It is the most important issue and it is not the right time to think about elections’, he said.

Related: Finance Minister announces three necessary steps to receive next IMF tranche

According to Lipton, if the authorities put emphasis on progress then the possibilities for the further consolidation of the debt and strengthening of the state finances of Ukraine will appear.

Related: Ukraine to hold negotiations with IMF on natural gas price

‘It is important to use the span of time before the elections to make way in the program and achieve more progress. Then we will be able to hold the election campaign in the terms of the stronger economy’, he said.

At the same time, Lipton reminded that earlier Ukraine interrupted the cooperation program with the IMF repeatedly as soon as the certain stability in the economy emerged.

Related: Ukraine intends to finish cooperation program with IMF in 2018

‘If Ukraine decides to stop the reforms or to make the step back then it can lose all achieved advantages of the implemented changes’, Lipton warned.

The loan program in the amount of 17.01 billion dollars was approved by IMF for Ukraine in April 2014 and the first stand by tranche in the amount of 3.19 billion dollars was allocated in May 2014.

Related: Ukraine to propose new gas price formula to IMF, - Reuters

The EFF program was opened in March 2015 and it is aimed for four years. The total amount of the program is 17.11 billion dollars. The first tranche in five billion dollars provided the review of the program in every three months. Three tranches in 1.63 billion dollars were allocated in 2015 and the tranches in 2016-2018 should be allocated every three months in the amount of 0.61 billion dollars.

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