IMF expects Ukraine to fulfil preliminary requirements for new program

IMF expects Ukraine to fulfil preliminary requirements for new program

Ukrinform
To launch a new IMF Extended Fund Facility program worth $5.5 billion, Ukraine has to fulfil preliminary requirements.

“As far as Ukraine is concerned, we have reached a staff level agreement which stipulates the fulfillment of certain preliminary requirements. Work is ongoing and our staff continues to interact with Ukraine. Once these requirements are met, this will be a moment for us to convene our Executive Board,” IMF Managing Director Kristalina Georgieva said during the presentation of the Fund’s new study results in Washington, D.C. on Friday, Ukrinform reports.

As a reminder, a similar statement about the new EFF program for Ukraine was made by the IMF in December. When Ukrinform correspondent asked to explain what preliminary requirements Kyiv had to fulfil, it was stated that Ukraine should “focus on supporting macroeconomic policy.”

As reported, President of Ukraine Volodymyr Zelensky held a phone conversation with IMF Managing Director Kristalina Georgieva at the beginning of December 2019.

The parties discussed the terms of further cooperation and reached an agreement on a new three-year EFF program totalling $ 5.5 billion. At the same time, the Fund welcomed the “exceptional progress” made by Ukraine over the past few months in promoting reforms and continuing strong economic policies.

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