Contents tagged with IMF

  • Media: Ukraine will not receive next IMF loan tranche this year

    The International Monetary Fund is ready to consider the allocation of the next tranche to Ukraine after the adoption of the state budget for 2019, reported the Ukrainski Novyny news agency with a reference to a source close to the talks.

    The IMF mission worked in Kyiv for two weeks and left Ukraine in the evening of September 19. Neither the Fund nor the government and the National Bank have made any comments on the outcome of the talks.

    According to the agency, the discussions held by the …

  • Ukraine and IMF agree on gradual increase in gas price

    During the negotiations with the International Monetary Fund, the Cabinet of Ministers reached a preliminary agreement to gradually increase gas prices for the population to the level of import parity until 2020, said Andriy Kobolyev, the head of Naftogaz Ukraine at the forum of the European Business Association, Interfax Ukraine reported.

     “The government has reached an initial compromise. The [price] increase rate is now being discussed,” he said.

    The head of Naftogaz said that the issue of …

  • Ukraine expects to receive the first tranche of new EU macro-financial assistance before the end of the year

    Minister of Foreign Affairs of Ukraine Pavlo Klimkin said that Ukraine could receive the first tranche of new macro-financial assistance from the European Union before the end of this year. However, he said that the funds will be received only if the International Monetary Fund's loan program is renewed.

    “Of course, we count on the IMF, but I’m sure that we will successfully finish every necessary negotiation. The international financial institutions always act in strict coordination and the …

  • IMF to open new lending program for Ukraine

    The price of gas may increase by 23.5% in October. The prices of gas for industry and the population must eventually equalize. Ukrainian authorities are discussing this scenario during negotiations with the IMF mission, reports Ukrainski Novyny News Agency, referring to its sources.

    It is noted that the parties agreed upon a new Stand-by lending program for Ukraine, which will replace the current EFF (Extended Fund Facility) program and will help avoid default and a sharp increase in gas …

  • Ukraine and the EU to sign macro-financial assistance program for €1 billion

    As stated in the European Commission’s message, Ukraine and the European Union will sign a program of macro-financial assistance for €1 billion this week. On September 13, the Vice President of the European Commission, Valdis Dombrovskis will arrive in Ukraine to sign the deal.

    He will also hold negotiations with the Prime Minister of Ukraine, Volodymyr Groysman and Minister of Finance of Ukraine Oksana Markarova, and will take part in the Yalta European Strategy forum during his two-day visit. …

  • Russia’s real foreign debt five times higher than official figure

    The Russian government’s nominally low foreign debt of $50 billion, at 3.6% of the GDP, is only the tip of the iceberg with respect to the government’s lending to western creditors, reports.

    If one takes into account the loans of the state banks and the state corporations and structures which are more than 50% owned by the government, the total foreign debt of the government sector exceeds the official figure by a factor of five, at $255 billion.

    These were the figures cited by the …

  • Belarus refuses loan from IMF in order to not 'shock the population'

    The Belarusian Minister of Finance Maksim Yermolovich said during an evening broadcast of the STV channel that the government refused a loan from the IMF to avoid the possible shock of the population. “The head of state said that this will be a shock to our people. Therefore, the government refused the IMF program,” said Yermolovich.

    According to him, the Belarusian government had to do it because the IMF demanded that the reforms be implemented in a shorter period than agreed by the …

  • Prime Minister Groysman: Ukraine will be on the verge of default without foreign loans

    Ukrainian Prime Minister Volodymyr Groysman said that the increase in gas pricea is a forced measure in order to pay off debts to the IMF, reported Inter TV channel.

    According to Groysman, the Ukrainian national debt increased by 50 billion dollars from 2005 to 2013.

    “We carry such a serious debt on our shoulders. We cannot pay it off on our own. That is why we have to enter international markets. We have to take this step to ensure stability. I am the first person who is for reducing prices, …

  • Kyiv: Ukraine has fulfilled most of its obligations to the IMF

    During a meeting with representatives of the International Monetary Fund, the Acting Finance Minister of Ukraine, Oksana Markarova said that Ukraine has fulfilled most of its obligations to the Fund, as reported by the press service of the Ukrainian Ministry of Finance.

    Markarova met with the head of the IMF mission, Ron van Roden and the IMF permanent representative to Ukraine, Gosta Ljungman. “The IMF’s visit is a positive move in Ukraine's relations with the Fund. Today, we have already …

  • Ukraine pays part of its debt to IMF

    Ukraine transferred $160.3 million to the International Monetary Fund (IMF) as payment of its principal loan, FinClub reported on Friday, August 31. According to the report, the payment was made in 114.3 SDRs or special drawing rights. Further payments are scheduled for November 1 and 5.

    According to the payment schedule, Ukraine must repay more than $500 million for euro bonds and another $580 million for servicing debts to the IMF before the end of 2018.