National Bank expects signing of IMF program in first quarter of 2020

Source : 112 Ukraine

According to the schedule, the next session will take place next year
15:43, 12 December 2019

Yakiv Smoliy, Head of the National Bank of Ukraine

The signing of the new program with the International Monetary Fund (IMF) will not take place in 2019. However, the National Bank of Ukraine (NBU) expects that it will take place in the first quarter of 2020 as Head of the NBU Yakiv Smoliy stated.

“We do not expect the decision on the signing of the program in this year; it will not take place. But, according to the schedule, the session may take place in the first quarter of the next year,” he said.

Earlier an agreement was reached on cooperation between Ukraine and the IMF on a new lending program. President of Ukraine Volodymyr Zelensky and Managing Director of the International Monetary Fund Kristalina Georgieva discussed this during a telephone conversation.

Related: How to implement state budget 2020 without IMF tranches and money for gas transit?

Kristalina Georgieva confirmed the agreement on cooperation with Ukraine on a new program worth 4 billion SDR (Special Drawing Rights), or about $ 5.5 billion, the press service of the Fund said.

As we reported, the mission of the International Monetary Fund intends to continue discussions on a new lending program for Ukraine.

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