IMF concludes review mission to Ukraine

IMF concludes review mission to Ukraine

The mission of the International Monetary Fund, which worked in Ukraine on May 10-18, reached staff level agreement with the authorities on policies needed to complete the second review under the Extended Fund Facility (EFF).

This is said in the official IMF’s statement, published at the conclusion of the mission’s visit to Kyiv, an Ukrinform correspondent reports.

"These agreements subject to approval by IMF management and the Executive Board," the statement reads.

It is emphasized that Ukraine has made considerable progress in restoring macroeconomic stability over the past year under difficult circumstances. The steadfast implementation of structural and institutional reforms “is now critical to turn the recent recovery into strong and sustainable growth, with unwavering determination in the fight against corruption emerging as a litmus test for the government’s ability to retain broad domestic and international support for its policies," Ron van Rooden, the mission chief for Ukraine, noted.

It is therefore important that the “authorities boost their efforts to entrench fiscal and financial stability, decisively enhance transparency and the rule of law, and reform the large and inefficient state-owned enterprise sector.”

The implementation of strong measures in these areas “will pave the way for the IMF Executive Board’s consideration of the review, expected in July 2016,” the document sums up.


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