Contents tagged with IMF

  • 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 …

  • Poroshenko: gas prices in Ukraine can only be lowered through 'Russian gas cabal'

    During a meeting with a team from the Accounting Chamber in Kyiv on Monday, Ukrainian President Petro Poroshenko urged Ukrainians not to believe the populists who promise to bring down the price of natural gas, because this can only be done by going back to Russian gas supply contracts. “Listen today to the populists’ promises to bring the gas price down to half, a third, a quarter – some have even agreed to lower the price to one sixth. This can only be done by returning to the Russian gas …

  • Chairman of Ukrainian Parliament: raising gas prices unavoidable

    Verkhovna Rada Chairman Andriy Parubiy said in a statement on the Ukrainian parliament’s official website that raising the gas prices is an “unavoidable decision” which is “necessary to prevent an economic crisis in Ukraine”.

    Parubiy said that the decision “is not and cannot be popular”, but that statist government leaders knowingly accept losses to their own popularity when this is necessary.

    “One of our country’s great problems is that the populists of the past led Ukraine into extremely …

  • Ukraine and IMF agree on new $3.9 billion support program

    The Ukrainian authorities and the International Monetary Fund (IMF) have reached an agreement on a new 14-month support economic policy under the Stand-by arrangement (SBA), which will replace the Extended Fund Facility (EFF) program, which began in March 2015 and was supposed to end in March 2019.

    “The new SBA, with a requested access of SDR 2.8 billion (equivalent to US$3.9 billion), will provide an anchor for the authorities’ economic policies during 2019,”  said the IMF.

    The agreement is …

  • Media: IMF’s new program for Ukraine has four conditions

    In order to be considered for a new International Monetary Fund (IMF) program, Ukraine must meet at least four conditions, Evropeiska Pravda reports.

    “It is already clear that Ukraine does not comply with 100% of the Extended Fund Facility (EFF) program signed in 2015,” the article observes.

    This is why the parties have put their money on a second option: to agree on a new, shorter collaboration program. According to government sources, the program in question would be a stand-by program for $ …