Ukraine, IMF to sign new memorandum on cooperation, - Finance Minister

Source : 112 Ukraine

The essence of cooperation will be saved, but the program of cooperation is to be changed, Serhiy Marchenko says
08:05, 12 February 2021

Ukraine's Finance Minister Serhiy Marchenko

Ukraine and the IMF are going to sign the new Memorandum on cooperation. Serhiy Marchenko, Ukraine's Finance Minister said so in his interview with Korespondent.

"We have an acting Memorandum... Whatever wasn't done in autumn 2020 will be transferred - with new deadlines - into the new Memorandum. Perhaps it will not be a structural beacon, but an early condition. It's about changing the format of the document", he said.

According to Marchenko, the essence of cooperation will be saved, but the program of cooperation is to be changed. The official added that terms and conditions could be modified.

"A question of tariffs that we took care about back in summer emerged again. Due to revision of gas tariffs, the matter will be brought up in a different way - it's difficult to say in which one", Marchenko said.

Related: Ukraine, IMF negotiated on gas price, PM claims necessity to find middle ground

He also added that the amount of payments from the IMF will not change. The matter of terms can be discussed, but it's not there yet. The most discussed question now is the deficit of Ukraine's state budget.

"Currently, we talked through the consolidation of state budget in 2022 - whatever concerns the decrease of the deficit. Our goal is approximately 4-4.5 percent of the GDP in deficit of the state budget in 2022. The IMF's index makes 3.5 percent.  At that, we finished 2020 with the deficit of 5.3 percent GDP, and in 2021, we plan to finish at approximately 5.5 percent", the official concluded.

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

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