G7 ambassadors thank Ron van Rooden for his service in Kyiv, note need to finalize new IMF program

The ambassadors of the G7 countries thanked Mr. Ron van Rooden for his service as chief of the IMF Mission in Ukraine and expressed hope for fruitful cooperation with his successor Ivanna Vladkova-Hollar.

“We extend our sincere thanks and best wishes to Ron van Rooden for three years of honorable service and friendship to Ukraine as IMF Mission Chief. We look forward to developing a close and productive working relationship with new Mission Chief Ivanna Vladkova-Hollar,” the ambassadors said in a statement posted on their Twitter account.

The G7 ambassadors also noted that “finalizing a new IMF program is crucial for Ukraine’s macro-economic stability and the future of reforms.”

As reported, Ivanna Vladkova-Hollar was appointed head of the IMF Mission in Ukraine. She replaced Mr. Ron van Rooden from May 1, 2020.

On May 7, IMF Spokesperson Gerry Rice said that negotiations between the IMF and Kyiv were aimed not at securing a three-year Extended Fund Facility (EFF) for Ukraine, but at achieving the conditions for launching a Stand-By Arrangement (SBA), which provides for smaller volumes and will last for 18 months.

In December 2019, the IMF reached an agreement with the Ukrainian leadership on a new $5.5 billion Extended Fund Facility (EFF).

The amount of funding under the new Stand-By Arrangement has not been announced yet.

ish