Ukraine, IMF agreed on further steps needed to receive next tranche - Shmyhal

Ukraine, IMF agreed on further steps needed to receive next tranche - Shmyhal

Prime Minister Denys Shmyhal has said the government of Ukraine and the mission of the International Monetary Fund (IMF) have agreed on the next steps of cooperation.

In a post on his Facebook page, Shmyhal wrote: "We continue constructive cooperation with the IMF. On behalf of the government, I would like to thank the Fund's mission team for its important work. As a result: we have agreed on the next steps, discussed the deadlines for their implementation and clearly understand the expected results”.

According to the prime minister, "during the work of the virtual mission, we have outlined a range of issues on which we continue a constructive dialogue." In particular, these are the issues in the areas of anti-corruption legislation, energy, financial sector development and further fiscal consolidation.

As Ukrinform reported, the IMF mission completed its work in Ukraine on February 12, but the decision to review the Stand-By Arrangement was not approved.

According to IMF Resident Representative in Ukraine Goesta Ljungman, the discussions focused on strengthening the management of the National Bank; improving the legislative and regulatory framework for banking supervision and financial recovery; measures aimed at reducing the fiscal deficit in the medium term; legislative initiatives regarding the restoration and strengthening of anti-corruption infrastructure and legal proceedings, as well as activities related to the energy sector.

The IMF mission had been working in Ukraine since December 21, 2020 in a remote format due to COVID-19: then it took a break for the holidays. After the holidays, on January 11, the IMF mission resumed its work in Ukraine.


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