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IMF said it made progress in negotiations with Ukraine

Source : 112 Ukraine

The bilateral negotiations will continue in coming days
08:30, 1 March 2020

Open source

The International Monetary Fund said that the organization has achieved success in negotiations with the Ukrainian authorities and that discussions would continue in the coming days, as the Reuters reports.

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“The IMF staff team that visited Kyiv made very good progress in discussions on legislation to support growth and ensure stability, and discussions will continue in the coming days,” the statement reads.

An IMF expert group has been working in Kyiv since February 20. As previously reported in the fund, it aimed at "conducting technical discussions on policies aimed at achieving more powerful growth and ensuring stability."

We are talking about a new three-year program of expanded financing for Ukraine totaling more than 5.5 billion dollars. It should replace the previous stand-by program with $ 3.9 billion, which Kyiv has not yet fulfilled - Ukraine was able to receive only its only tranche of $ 1.4 billion in December 2018.

The IMF tentatively supported a new lending program for Ukraine, but its provision is conditional on Kyiv’s progress in reforms.

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The timing of the agreement on the new program remains uncertain. In the meantime, Kyiv hoped to conclude it and receive the first 2 billion dollars back in 2019.

As we reported before, The International Monetary Fund informed it had made good progress in talks with the Ukrainian authorities and that the discussions would continue in the coming days

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