Contents tagged with IMF

  • IMF concerned by resignation of Ukrainian Economic Minister

    The decision of Aivaras Abromavičius to resign as the Minister of Economic Development and Tradeof Ukraine has created concern in the International Monetary Fund (IMF).

    According to Interfax Ukraine, this was stated as a press conference in Washington by the Managing Director of the IMF, Christine Lagarde.

    “His decision to resign is a matter of concern.  If the suspicions he expressed when he communicated his intention to resign are reliable, it is a clear sign that the undertakings made by …

  • Disagreements Emerge between Poroshenko and Cabinet of Ministers over IMF Loan

    Disagreements have emerged between the President of Ukraine, Petro Poroshenko, and the Cabinet of Ministers, headed by Arseniy Yatseniuk, over the International Monetary Fund (IMF) loan, as reported by Apostrophe, citing a source in diplomatic circles.

    The final version of the Memorandum, which outlines the obligations of both the IMF and Ukraine, is not yet ready. After the adoption of the budget for 2016 and changes in the tax code, the IMF received a proposal from the Cabinet of Ministers  …

  • IMF Delays next Installment of Loan to Kiev

    According to Apostrophe, a source in the Ukrainian Government stated that the International Monetary Fund, which is the key creditor of Kiev, has delayed the next installment within its loan program, which Ukraine is expecting to arrive this month.

    The President of Ukraine, Petro Poroshenko, the Minister of Finance, Natalie Jaresko, and the Chairwoman of the National Bank of Ukraine, Valeriya Hontaryeva, have discussed the economic situation in the country and the provision of the next loan …

  • Jaresko: The IMF Has Accepted Ukraine's Budget For 2016

    The Minister of Finance of Ukraine, Natalie Jaresko, stated that the International Monetary Fund (IMF) has no comments on the adopted Law on the State Budget for 2016. "As for the budget there are no comments on our obligations to the IMF.  In principle, it was accepted as a whole," she said.

    At the end of last week during the World Economic Forum in Davos the Ukrainian delegation met with the Managing Director of the IMF, Christine Lagarde.  As reported by the Ministry of Finance, the main …

  • Poroshenko: Ukraine Expects $7 Billion Loan from IMF

    Ukraine expects the allocation of $7 billion from the International Monetary Fund this year, reported the President of Ukraine, Petro Poroshenko, in an interview with CNN.

    Information about the upcoming loan installment was posted on Twitter by the Administration of the President. Previously on Twitter, Poroshenko said that the IMF may allocate another loan in February 2016. "Ukraine expects the next allocation from the IMF in February 2016," said Poroshenko.

    Previously it was also reported …

  • Poroshenko: Ukraine to Receive Next Installment of IMF Loan in February

    The President of Ukraine, Petro Poroshenko, expects that in February 2016, Ukraine will receive the next loan installment from the IMF, as reported by Bloomberg, following a meeting in Davos with the Managing Director of the IMF, Christine Lagarde.

    According to Poroshenko, an agreement was reached on the allocation of the next installment of the loan to Ukraine. "We have reached a compromise on the budget deficit and the macro indicators, relative to all," the President assured.

    Poroshenko …

  • Ukraine anticipates $10 billion in loans in 2016

    The Prime Minister of Ukraine, Arseniy Yatsenyuk, stated that the Government of Ukraine expects to receive around $10 billion from international lenders in 2016, almost the same amount as this year. He said that the International Monetary Fund and the World Bank are among these international lenders.

    Yatsenyuk stated at a press-conference on December 29th that Kiev succeeded in receiving the same funding from the international community in 2015. The Prime Minister also reported that the …

  • Kiev issues moratorium on payment of debt

    The government of Ukraine has announced that it will not repay the $3 billion debt owed to Russia by the due date of December 20th.  In addition, a $507 million commercial debt owed to several Russian banks will also be suspended.

    Kiev cited Russia’s refusal to accept repayment terms already offered to other international creditors.

    Ukrainian Prime Minister Arseny Yatseniuk did not specify how long the moratorium would last, but acknowledged that the Russian government would take legal action …

  • IMF recognizes status of Ukraine’s debt

    Ukraine’s debt to Russia is set to mature on December 20th.  Recently, however, the International Monetary Fund (IMF) lifted the ban on lending to countries with existing overdue sovereign debt, so Ukraine’s unpaid "debt of Yanukovych" will not prevent the IMF from further cooperation with Kiev.

    The Executive Committee of the IMF officially recognized the $3 billion Eurobond that Ukraine owes to Russia as sovereign debt, not commercial. Consequently, Ukraine will have to demonstrate that it is …