Zelensky’s advisor: Ukraine, IMF may agree on new program after parliamentary elections

“I think it is possible to launch a new program after the parliamentary elections. I suppose that the negotiation process on either launching a new program or revising the old one will start in June-August,” Oleg Ustenko, the executive director of the Bleyzer Foundation and Volodymyr Zelensky’s advisor on macroeconomic policy, said in an interview with Interfax-Ukraine news agency.

He also admitted the possibility of extending and revising the parameters of the current funding program.

“Two options are possible: the program will be closed and a new one will be launched, or they will revise the parameters of the current program and extend it. But the first option is the main one,” Ustenko commented.

As reported, IMF’s review mission on Stand-By Arrangement will start to work in Ukraine on Tuesday, May 21. The SBA was approved on December 19, 2019. The amount of the 14-month program is equivalent to SDR 2.8 billion (about USD 3.9 billion). SDR 1 billion (about USD 1.4 billion) was provided immediately, while the remaining funds should be disbursed based on the results of semi-annual arrangement revisions in 2019.

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