G7 ambassadors express support for new IMF program with Ukraine
The ambassadors said this in a joint statement posted on the Twitter account of the French Presidency of the G7 Ambassadors' Support Group in Kyiv on November 20.
"G7 meeting with the IMF Mission in Ukraine, this morning. G7 believes that a new IMF programme is crucial for macro-economic stability and the future of reforms. Full support to an agreement with IMF, that will bring long-lasting benefits for Ukraine," the statement says.
As reported, on November 14, the IMF mission led by Ron van Rooden arrived in Kyiv to continue the discussion about the possibility of opening a new Extended Fund Facility (EFF) for Ukraine.
The National Bank stated that Ukraine should conclude a new long-term cooperation program with the International Monetary Fund totaling $5-10 billion. According to the NBU forecasts, the first tranche under this program could be received by the end of 2019. The National Bank expects it to be about $2 billion.
The IMF's previous 14-month Stand-By Arrangement for Ukraine was approved at the end of 2018. It provided for the allocation of three tranches. Ukraine received the first and only IMF tranche under this program on December 21, 2018.
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