G7 ambassadors, PM Shmyhal discuss reforms and conditions under IMF program

G7 ambassadors, PM Shmyhal discuss reforms and conditions under IMF program

At a meeting with Prime Minister Denys Shmyhal, the ambassadors of the G7 countries stressed the importance of Kyiv's fulfillment of the conditions under the IMF Stand-By Arrangement and EU macro-financial assistance.

This was said in a statement posted on the Twitter account of the UK Presidency of the G7 Ambassadors' Support Group in Kyiv on April 10.

"G7 Ambassadors met PM Denys Shmyhal yesterday for a wide-ranging discussion. They reaffirmed support for Ukraine's reform efforts and the importance of meeting the agreed conditions for the IMF stand-by arrangement and EU Macro-Financial Assistance," the statement reads.

In addition, the G7 ambassadors acknowledged the ongoing challenges of COVID-19. "They discussed the reform of Ukraine's military industrial complex; the importance of good governance across the full range of economic activity; and encouraged Ukraine's further contribution to global action on climate change," the report says.

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

On June 9, 2020, the IMF Executive Board approved a new 18-month Stand-By Arrangement for Ukraine with total funding of USD 5 billion. Ukraine received the first tranche of USD 2.1 billion on June 12.


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