Contents tagged with IMF

  • Russia to connect to Chinese SWIFT alternative

    Russia and China have agreed to transition to an international payments mechanism that is independent of SWIFT, Russian Deputy Finance Minister Alexey Moiseyev told Reuters in an interview.

    A corresponding point was included in the international agreement to develop payments in national currencies that was signed by Russian President Vladimir Putin and his Chinese counterpart Xi Jinping at the St. Petersburg Economic Forum in June.

    At present, China is the most “dollarized” market of all that …

  • Zelensky: Ukraine will continue to work with IMF

    Ukrainian President Volodymyr Zelensky met with Ron van Rooden, head of the International Monetary Fund’s (IMF) mission to Ukraine, in Kyiv last week, the president’s press service announced.

    The meeting was also attended by Yakiv Smolii, head of the National Bank of Ukraine, and Finance Minister Oksana Markarova.

    “The cooperation is continuing. The IMF has always been a reliable partner to Ukraine at times when we need support, and Ukraine in turn will also remain a partner that meets its …

  • IMF confirms readiness to cooperate with new Ukrainian government

    IMF representative Gerry Rice confirmed that the Fund is ready to continue cooperation with a new government in Ukraine as soon as it is formed.

    "When the government will be formed following the elections, we will be ready to continue the discussion about our further partnership with Ukraine," said Rice.

    He also confirmed that the IMF mission, which came to Kyiv for two weeks to assess the reforms, continues its work and will not return to Washington ahead of schedule, as several media …

  • Russian Prime Minister Medvedev wants to make Russia world’s 5th largest economy

    Russian Prime Minister Dmitry Medvedev has signed a decree confirming a plan to make Russia into one of the world’s top five economies, finanz.ru reports.

    According to the plan, which was published on the official government website on Wednesday, Russia is expected to oust Germany from 5th position by 2023.

    “At present, Russia holds the 6th position for GDP at purchasing power parity (PPP) according to the IMF’s assessment. In 2017, the lag behind Germany (which holds 5th position) on this …

  • US, EU ambassadors and IMF ask Ukrainian parliament to postpone consideration of illicit enrichment bills

    The International Monetary Fund (IMF), and the US and EU ambassadors to Ukraine have sent a letter to the relevant Ukrainian parliamentary committee asking it to postpone the consideration of all 13 pending bills on the penalty for illicit enrichment, since all the initiatives that have been submitted to the Verkhovna Rada of Ukraine so far are defective, Interfax-Ukraine reports.

    “The US ambassador, the IMF mission, and the EU ambassador have written a letter – it arrived today: They request …

  • IMF may allocate two more tranches to Ukraine by the end of 2019

    The new 14-month Stand-By Arrangement or SBA for Ukraine envisages the allocation of three tranches of funds, two of which amount to the equivalent of $2.6 billion dollars, by the end of 2019, reported Ukrinform, citing the IMF’s recent analytical report.

    There are three dates in the timetable of the planned review of Ukraine's implementation of the program’s conditions after which the Fund's Executive Board must decide whether to allocate the next tranche. The first date was December 18, 2018 …

  • IMF: there are no restrictions for cooperation with Ukraine under martial law

    The International Monetary Fund stated that there are no restrictions for continued cooperation with Ukraine under martial law, Interfax-Ukraine reports.

    "We are following the recent developments, including imposition of martial law, and hope for urgent de-escalation of the current situation. The IMF has no legal restrictions regarding continued cooperation with Ukraine in this situation,” stated the IMF Resident Representative in Ukraine, Gösta Ljungman.

    Earlier, Minister of Foreign Affairs …

  • Ukraine expects to receive $2 billion from the IMF immediately after the new budget is adopted

    Ukraine expects to receive 2 billion dollars from the International Monetary Fund immediately after the adoption of the bill on the state budget for 2019, as the representative of the President, Iryna Lutsenko told journalists on the sidelines of the Parliament session on Thursday.

    "We are expecting about two billion dollars. And I think, once the budget is voted and signed, the IMF said this many times, there will be no delays with financing and providing the next tranche to Ukraine," she …

  • IMF: No Ukrainian officials have been brought to justice for corruption

    Ukraine has shown poor results in the fight against corruption, according to the International Monetary Fund and the World Bank, Interfax-Ukraine reports.

    “We see significant progress in establishing anti-corruption bodies. But at the same time, the effectiveness of the fight against corruption is very low. Not a single official has been brought to justice for acts of corruption despite the fact that Ukraine is widely perceived as a country with a high corruption level," the representative of …

  • Ukraine may receive $8 billion after IMF program is unblocked

    A new program from the IMF will facilitate Ukraine’s access to funding worth $8 billion, which will help maintain a fairly stable hryvnia exchange rate next year, stated by Anders Aslund, an analyst at an American center, the Atlantic Council in an interview with the Ukrainian service of the Voice of America.

    “Most likely, Ukraine will now receive $2 billion from the IMF, as well as $ 2 billion from the EU and the World Bank. The Ukrainian government can sell Eurobonds for additional $2 …