Contents tagged with IMF

  • Kyiv: Ukraine can sustain public debt payments without IMF’s assistance

    Ukraine's international reserves are sufficient to meet public debt payments until the end of 2020, said the Governor of the National Bank of Ukraine, Yakiv Smolii, the bank’s press service reported.

    "The volume of Ukraine's international reserves is enough to go through a period of peak payments on public debt until the end of 2020 and without external financing but further prospects for the country’s economic growth will directly depend on progress in the implementation of structural reforms, …

  • IMF welcomes creation of Anti-Corruption Court in Ukraine

    International Monetary Fund (IMF) Managing Director Christine Lagarde has welcomed the establishment of a High Anti-Corruption Court in Ukraine, as noted in a statement by the Managing Director of the IMF following a telephone conversation with the Ukrainian President Petro Poroshenko.

    “I am very encouraged by the adoption of the law on the High Anti-Corruption Court (HACC) by the Ukrainian parliament, which is an important step forward in the authorities’ fight against corruption. The new law …

  • IMF to study Ukrainian law on Anti-Corruption Court to ensure it complies with agreements

    Gerry Rice, Director of the Communications Department (COM) at the International Monetary Fund, has said that the IMF will now assess the law adopted by the Verkhovna Rada on the creation of a High Anti-Corruption Court.

    According to Rice, IMF staff have expressed concern about the institutional role of the Ukrainian Ministry of Finance since the dismissal of Finance Minister Oleksandr Danylyuk.

    The Verkhovna Rada supported Prime Minister Volodymyr Groysman’s petition to dismiss Oleksandr …

  • National Bank of Ukraine denies threat of default

    The Deputy Head of the National Bank of Ukraine (NBU), Dmytro Sologub, has denied that the country is in threat of default in the event of termination of cooperation with the IMF, RBC-Ukraine reports.

    According to Sologub, the country's reserves are enough to pay off debt obligations, and rumors of default and restructuring of the national debt are no more than speculation.

    "If you look at the reserves of the National Bank and compare them with the forthcoming payments, purely mathematically …

  • US Ambassador: Ukraine to lose billions of dollars if Rada does not adopt Anti-Corruption Court law

    US Ambassador to Ukraine Marie Yovanovitch stated that Ukraine will be refused billions of dollars in international aid if the Verkhovna Rada fails to pass the law "On the High Anti-Corruption Court", which was agreed upon with the International Monetary Fund (IMF).

    "Failure to pass an IMF-compliant bill would erode Ukraine’s ability to fight corruption, prevent Ukraine from receiving billions of dollars in assistance, and destabilize the economy. Getting this right is essential for building a …

  • US urges Ukraine to create anti-corruption court in accordance with IMF requirements

    The United States has called on Ukraine to create an anti-corruption court that meets the requirements of the International Monetary Fund.

    US State Department Spokeswoman Heather Nauert noted this in a statement released on June 5.

    "The United States calls on the government of Ukraine to implement deep, comprehensive, and timely reforms that reflect the demands the people of Ukraine made during the Revolution of Dignity: an end to systemic corruption, faster economic growth, and a European …

  • Kyiv may tighten monetary policy and impose currency restrictions if IMF does not give next tranche

    The National Bank of Ukraine (NBU) warned that it may tighten monetary policy and impose currency restrictions if the International Monetary Fund does not release a fifth tranche to Ukraine.

    "We have been talking through the possible scenarios in the case there is no tranche. If inflationary pressures increase, it will strengthen our monetary tools to contain inflation. We will impose certain restrictions on potential capital outflows," NBU Governor Yakiv Smoliy told journalists on Thursday. …

  • Media: IMF inflexible about selection of judges for the Anti-Corruption Court in Ukraine

    The International Monetary Fund (IMF) has not been flexible regarding the selection of judges for the Anti-Corruption Court in Ukraine, Apostrophe news outlet reports.

    Disagreements between the deputies of the Verkhovna Rada and the representatives of the IMF and the Venice Commission became an obstacle to the preparation of the corresponding bill for the second reading, the news agency writes. The IMF insists that the final word in the choice of judges should remain with the international …

  • Media: Ukraine’s negotiations with IMF fall through

    According sources in several political parties, the evening negotiations on May 22 between Verkhovna Rada Chairman Andriy Parubiy and the representatives of the International Monetary Fund (IMF) and the Venice Commission concerning the bill on the Anti-Corruption Court did not produce any results, Evropeiska Pravda writes.

    The key issue of a veto right for a panel of international experts, which required agreement with the international partners, was also not resolved.

    As a result, several …

  • IMF: adoption of Anti-Corruption Court in Ukraine is a critically important requirement for the next tranche

    The Law on Anti-Сorruption Court is a critically important requirement for the completion of the fourth revision of Ukraine’s program of cooperation with the International Monetary Fund, the official representative of the IMF, Gerry Rice said during a traditional briefing in Washington on Thursday, May 17, Interfax-Ukraine reports.

    "More progress needs to be made on a number of fronts before we can conclude that fourth review; and issues include the energy sector and fiscal policy; an approval …