IMF released a memorandum on a new program for Ukraine

  • IMF released a memorandum on a new program for Ukraine

Kyiv: The International Monetary Fund officially released the Memorandum on Economic and Financial Policies with a new 14-month stand-by program for Ukraine.

This is reported on the IMF website.

According to the documents of the Fund, among the structural tasks of the program are approval of the law on "split", a report on the return of assets of state banks, separation of the State Fiscal Service, appointment of judges of the National Anti-Corruption Court, NBU measures on non-capitalized banks, completion of an external audit of the National Anti-corruption Bureau.

The program provides for the approval by the Verkhovna Rada, the Ukrainian Parliament, of the law on "split", the elimination of the National Commission for State Regulation of Financial Services Markets and the distribution of its functions between the National Bank and the National Commission on Securities and Stock Market until the end of March 2019.

The publication of the first report on the return of assets and the corresponding lawsuits on the four state-owned banks is also provided for until the end of March 2019.

We recall that Ukraine received the first tranche received the first tranche of the new stand-by cooperation program with the International Monetary Fund in the amount of SDR1 billion (about $1.4 billion), which increased the country's international reserves of $20.1 billion as of December 21, 2018.

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