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Ukraine’s talks with IMF on cooperation, financing to continue, - official

Source : 112 Ukraine

The technical talks with the IMF continue at the Finance Ministry, Justice Ministry and the National Bank
13:41, 17 February 2021

Macroeconomics adviser of the Ukrainian President Volodymyr Zelensky Oleh Ustenko
Open source

Adviser of Ukraine’s President on Economy Oleh Ustenko stated that talks of Ukraine on financing and cooperation with the IMF would resume and there are no reasons for concerns, as Radio NV reported.

“The issue of discussion is more or less clear with the Finance Ministry – the parameters of 2022, some aspects concerning this year but not so principal that they cannot be solved. The agenda with the National Bank is also more or less clear and there is significant progress,” Ustenko said.

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

According to him, issues discussed with the IMF tied with legal aspects but not an economy in general. The only narrow area of talks with the Fund is the restoration of anti-corruption architecture in Ukraine.

The adviser of the president believes there are no reasons for concerns due to the IMF statement.

“Firstly, we expect that the cooperation will resume. Secondly, the country, this year, is on the restoration path. We can argue about the growth this year but it will be, according to the Cabinet of Ministers – 4.5%,” Ustenko added.

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

Moreover, he sees no reasons for violation of exchange rate stability of hryvnia.

“Gold and foreign currency reserves are at the level of $29 billion, in fact, a 9-year maximum; they cover five months of our import (it is dangerous when they do not cover three months as it was observed until the end of 2019),” the economist said.

On February 13, the International Monetary Fund's (IMF) mission completed its work in Ukraine. However, the decision to review the stand-by program has not yet been made.  In the period from December 21-23 and from January 11 to February 12, IMF specialists discussed with representatives of the Ukrainian authorities the progress in the implementation of measures and reforms, which is part of the government's action program supported by the stand-by agreement.

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