Ukraine Aims to Finish Cooperation with IMF in 2023 – Markarova

"My ambitious plan is to be able to complete it (the program with the IMF). So that in 2023 we will not have a question about a new tranche, and we will support ourselves," - Ukrainian Finance Minister Oksana Markarova

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20.11.2019

Photo UATV/Ukrinform

Ukraine should finish cooperation with the International Monetary Fund (IMF) in 2023, and the program being negotiated now should become the last one, Ukrainian Finance Minister Oksana Markarova said.

“My ambitious plan is to be able to complete it (the program with the IMF). So that in 2023 we will not have a question about a new tranche, and we will support ourselves,” Markarova said in an interview with Hromadske.

For now, Kyiv continues negotiations with the IMF mission on a new loan program, Markarova said.

“The program we are working on is good. It will give us the opportunity to carry out many reforms, privatization, concessions, and other things. But it should also allow us to leave it at the end, as Poland was able to do at the time,” Markarova said.

On Nov. 14, the IMF mission, led by Ron van Rooden, arrived in Kyiv to continue discussion on the possibility of opening a new Extended Fund Facility (EFF) for Ukraine.

Ukraine should conclude a new long-term cooperation program with the International Monetary Fund totaling $5-10 billion, the National Bank of Ukraine (NBU) stated. According to the NBU forecasts, the first tranche under this program could be received by the end of 2019. The National Bank expects it to be about $2 billion.

The IMF’s previous 14-month Stand-By Arrangement for Ukraine was approved at the end of 2018. It provided for the allocation of three tranches. Ukraine received the first and only IMF tranche under this program on Dec. 21, 2018.

Source Ukrinform
date 20.11.2019
categories Economics
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