The Ukrainian authorities are not considering the opportunity of declaring the default, counting on agreements with the International Monetary Fund both to increase potential funding and additional assistance in the fight against the coronavirus pandemic. Secretary of President Volodymyr Zelensky Julia Mendel stated that as quoted by Interfax-Ukraine.
"For Ukraine, cooperation with the IMF is now extremely important. We are very pleased that we were able to agree on increasing potential funding. Indeed, in addition to the assistance program that we discussed earlier, the IMF is considering Ukraine’s support in combating the spread of the Covіd-19 coronavirus," Mendel said.
According to her, Ukraine will recover for a very long time and it will be hard if the default is announced.
"The authorities will not risk the lives of Ukrainians, and therefore they doe not consider the option of default," Mendel said.
She added that Zelensky hopes that the MPs are accountable to the Ukrainians and that at an extraordinary meeting of the Rada they will vote on the necessary legislative initiatives to support business, socially vulnerable categories of the population, as well as super-important reforms in the banking and agricultural sectors, which will not only help Ukraine maintain economic stability, but also provide financial support to the IMF.
As we reported, the IMF notes significant progress in the negotiations on a new EFF program for Ukraine and stresses the adoption of legislation on the improvement of the regulatory structure in the banking sector, as well as the law on the land reform.