Contents tagged with IMF

  • IMF warns of potential political instability in Russia

    Russia is among a group of countries in Central and Eastern Europe with the greatest risk of political instability, as stated in a report by the International Monetary Fund on regional economies, as cited by RIA Novosti.

    The IMF is referencing a study by the Economist Intelligence Unit (EIU) that evaluates political risks of all countries in the world on a scale from 0 to 100.

    “Currently, about half of the countries in Central, Eastern and Southeast Europe have risk levels of over 50,” the …

  • Russian Ministry of Finance will continue negotiations with the IMF on Ukrainian debt

    The Russian Minister of Finance, Anton Siluanov, stated that Russia will continue negotiations with the International Monetary Fund concerning the non-payment of $3 billion, which the former President of Ukraine, Viktor Yanukovich, took on credit, TASS reported.

    “We have been discussing the cooperation of the International Monetary Fund in an effort to secure its obligations on behalf of Ukraine and the consequences of the default that Ukraine allowed to happen with this debt,” Siluanov said. …

  • The IMF is ready to cooperate with Ukraine's new government

    The IMF representative said that the fund will have a meeting with the new government of Ukraine

    The International Monetary Fund (IMF) is prepared to continue cooperation with the new members of the Cabinet of Ministers of Ukraine. This was announced on April 15, 2016, by the Director of the IMF’s European Department, Poul Thomsen, at a press briefing of the annual "Spring Meetings of the International Monetary Fund and the World Bank Group", Radio Svoboda reported.

    "We are ready to continue …

  • Ukraine and IMF have not yet agreed on updated memorandum on cooperation

    According to the Deputy Finance Minister of Ukraine, Artem Chevalier, Ukraine and the IMF have not yet agreed on the updated version of the memorandum on cooperation.  This memorandum would detail the provision of new loans for Ukraine.

    After a press conference in Kiev, Chevalier said that “we do not have the updated version of the memorandum yet”.

    He also did not give a possible date for resuming Ukraine’s cooperation with the fund.  In response to a question about the nature of the possible …

  • Economist explains IMF credit policy in regard to Ukraine

    There will be a continued depreciation of the national currency in Ukraine, and the exchange rate may reach 30-35 UAH to the US dollar, as stated by economist, Elena Slezko, in her commentary for GolosUA.  She also stated that the International Monetary Fund (IMF) plays a considerable role in this situation.

    “Everything depends on the government’s actions and how long the IMF will delay the next tranche as we are very dependent on that money,” she noted.  “All developing economies use a number …

  • Poroshenko submits package of laws required to implement EU visa-free regime

    The President of Ukraine, Petro Poroshenko, has submitted a package of three laws to the Verkhovna Rada which are aimed at helping Ukraine comply with the requirements for the introduction of a visa-free regime with the European Union (EU).  This was reported by the presidential press service.

    According to the report, one of these laws was named "On amendments to the law 'On Prosecutor's Office' concerning ensuring transparency in the organization of work of the Specialized Anti-Corruption …

  • Biden urges ruling coalition to restore unity of Ukraine

    US Vice President Joe Biden has called on the ruling coalition in Ukraine to quickly restore unity in the country so the government can move forward with reforms.  These reforms are in accordance with Ukraine’s obligations under the International Monetary Fund (IMF) program.  Biden stated this during a telephone conversation with the President of Ukraine, Petro Poroshenko.

    Biden and Poroshenko talked about the importance of achieving progress in security issues and political aspects of the …

  • Ukrainian Eurobonds plummet following IMF's announcement of possible cessation of assistance to Kiev

    A statement made by the head of the International Monetary Fund, Christine Lagarde, concerning the possible cessation of financial assistance to Ukraine has already affected the value of Ukrainian Eurobonds.

    Igor Mazepa, the Director General of IC Concorde Capital and a member of its business initiatives group, discussed this in his commentary for According to him, the value of Ukrainian bonds fell by 1.5-2.2% in just one hour.

    "In comparison, last week after the statement …

  • Poroshenko to IMF: Ukraine will continue reforms despite crisis in relations in the government

    The President of Ukraine, Petro Poroshenko, held a phone conversation with the Managing Director of the International Monetary Fund, Christine Lagarde, in which an agreement was reached to prepare a road map for reforms, the Press Service of the President stated.

    As noted, Poroshenko stressed that Ukraine will continue reforms despite the crisis in relations between the government and the parliamentary coalition.  In addition, the President stressed the need to restart the Cabinet of Ministers …

  • IMF says Ukraine's Bailout is at Risk

    After the resignation of the Minister of Economic Development and Trade of Ukraine, Aivaras Abromavičius, the IMF has warned Kiev of a possible cessation of financial support. The Managing Director of the IMF, Christine Lagarde, stated on the 10th of February that it is difficult to imagine that the Fund could further support the country without significant efforts by the Ukrainian Government.

    She also expressed concern about how slowly Ukraine is moving in the fight against corruption. The …