The IMF hopes to sign a new program with Ukraine in the near future

  • The IMF hopes to sign a new program with Ukraine in the near future

Kiev: The International Monetary Fund, whose mission began work in Ukraine on November 14, hopes to achieve quick results in negotiations with the government to sign a new cooperation program.

This was announced by the director of the IMF's European affairs department, Paul Thomsen, in a commentary to Voice of America.

“I hope to achieve a quick result. While progress is encouraging, some unresolved issues remain. Let's see”, - said Thomsen.

According to him, the main task of the new government in Ukraine is to preserve the successes that have already been achieved in achieving macroeconomic stabilization. The IMF representative also noted that the fund hopes to maintain the independence of the National Bank of Ukraine and its decisions on cleaning the banking market.

“Ukraine is not progressing well in structural reforms. We can say that in recent years, the development of events here has disappointed. We are particularly concerned about corruption and governance, and I think the new government should strengthen its efforts in this area”, - Thomsen added.Recall that on the eve it was reported that the IMF mission will begin its work in Ukraine on November 14. The purpose of the arrival of representatives of the fund in Kiev is to negotiate a new loan program for expanded financing (EFF), which will be valid for the next three years.

Now Ukraine is in the IMF short-term loan program, which should be completed in early 2020. In the framework of this program, the country received one tranche of the three provided.

The IMF mission was in Ukraine in September. On October 18, the IMF announced that they would return their mission back to Ukraine in the near future. Subsequently, Prime Minister Alexei Goncharuk said that the IMF mission should arrive in Ukraine around November 4. However, this did not happen.

On the eve of the publication, The Wall Street Journal reported that the IMF has frozen cooperation with Ukraine, in particular the payment of tranches under the current program, due to lawsuits around PrivatBank and the likelihood that former owners may regain control over it.

According to the publication, the IMF wants the Ukrainian authorities to actively seek the return of funds that Igor Kolomoisky and Gennady Bogolyubov withdrew from PrivatBank on the eve of its nationalization.

The government denied this information, noting that the IMF did not freeze cooperation with Ukraine.

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