IMF intends to continue cooperation with Ukraine

IMF intends to continue cooperation with Ukraine

Ukrinform
IMF Resident Representative in Ukraine Goesta Ljungman has stated that the Fund intends to continue cooperation with Ukraine under the Stand-by Arrangement, Hromadske reports.

According to Ljungman, discussions are currently underway with the Government on the timeline of reforms, which are conditions for Ukraine to receive funding, and on economic and financial policy of the state.

The key requirements include the completion of the reform of customs and tax services, the approval of a plan for dealing with non-performing loans in the banking system, etc.

"It is important that current economic policy meets the criteria on which the memorandum on economic and financial policy is based. It is on these issues that discussions are ongoing," the IMF Resident Representative in Ukraine noted.

Date of start of cooperation program review has not been set yet. It is also unknown when the IMF mission will arrive in Ukraine and assess the Ukrainian Government’s compliance with the requirements.

As reported, on June 9, the Executive Board of the International Monetary Fund approved an 18-month Stand-by Arrangement for Ukraine, with access equivalent to $5 billion. On June 12, Ukraine received $2.1 billion as the first tranche.

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