Markarova: Ukraine in active talks with IMF over new loan program

Markarova: Ukraine in active talks with IMF over new loan program

Ukraine is “in very active discussions” with the International Monetary Fund over a new loan program, according to Finance Minister Oksana Markarova.

“This program that we have right now, we’ve designed it as the breach program to cover Ukraine through two elections. In a sense, this program has done what it had to do.” Markarova said in an interview in Skopje, North Macedonia, Bloomberg reports.

“Given that investors are interested in Ukraine’s domestic bonds, the government doesn’t need to sell more debt on international markets in 2019. It sold 1 billion euros ($1.1 billion) of debt this month. We already see that we’re outperforming budget projections in funding from local borrowing," the minister noted.

The IMF agreed on a $3.9 billion loan in late 2018 to get Ukraine through this year, though aid is on hold until a new government is in place. When that happens, a new program is likely. Markarova sees it lasting three years. She didn’t specify the size.

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