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IMF notices slowdown of reformations in Ukraine
19:10, 20 April 2018

IMF notices slowdown of reformations in Ukraine

Paul Tompsen, the Director of the IMF’s European Department, said it at the briefing in Washington

19:10, 20 April 2018

Open source

The International Monetary Fund (IMF) claimed that there was some weakening of the reformation efforts of Ukraine’s Government. Paul Thomsen, the Director of the IMF’s European Department, said it at the briefing in Washington, as Interfax-Ukraine reported.

“We notice some slowdown of the reforms,” Thomsen stated.

Related: Poroshenko declares $23 thousand interest income from deposits in IMF

As it was reported, IMF demanded Ukraine to raise gas prices to the market level. The representatives of IMF reminded that Ukraine agreed to settle gas prices to the level of the external market rate in 2016, but because the Government did not comply with the decisions, the Fund’s lending was frozen after two last tranches in April 2017.  

As we reported earlier, the International Monetary Fund stated that Ukraine’s inflation in 2017 was the highest among all of the Commonwealth of Independent States (CIS). The Fund estimated the average annual inflation in the country in the current year at 14.4%, which turned out to be greater than its prediction of 12.8%.

Over the previous year, the International Monetary Fund revised the forecast for Ukraine’s inflation upwards, from the initially predicted level of 10% to 11.5%, then 12.8%. The Fund forecasts Ukraine’s inflation in 2018 at 11%, and at 8% next year.

Related: Rise in gas prices: Does IMF really require this?

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