Contents tagged with IMF

  • Kyiv expects to receive $1.9 billion from the IMF in June

    Ukraine is doing everything possible to get another tranche of 1.9 billion dollars from the International Monetary Fund (IMF) in June, as stated by Ukraine’s Minister of Finance, Oleksandr Danyliuk in the interview with RBC-Ukraine.  

    Danyliuk noted that Ukraine will get the next tranche when it fulfils all the conditions of the Memorandum which are necessary to review the program.

    "Considering our intensive negotiations with the IMF on gas issues, the solution will be found in the very near …

  • Ukraine’s National Bank and IMF negotiate fifth loan tranche

    Ukraine and the International Monetary Fund (IMF) discussed the necessary steps to obtain the country’s fifth loan tranche.  

    The National Bank of Ukraine’s (NBU) press-service reported the results of the meeting between the Ukrainian Delegation, headed by Governor of the NBU Yakiv Smolii, and the IMF’s First Deputy Managing Director David Lipton in Washington.

    “Ukraine has made significant progress in stabilizing the economy and capacity-building for growth,” IMF’s First Deputy Managing …

  • IMF prevents Ukrainian President from submitting bill on the tax on capital withdrawal from Ukraine

    Ukrainian President Petro Poroshenko has decided to postpone the submission of the bill introducing tax on withdrawn capital to the Verkhovna Rada in light of to the International Monetary Fund’s (IMF) stance, Deputy Head of Presidential Administration Dmitry Shymkiv reported. Shymkiv referred to the bill’s text on the president’s website.

    “Yesterday during the business meeting, there were great expectations that the President would submit to the Verkhovna Rada of Ukraine (VRU) the bill on …

  • Ukrainian President acknowledges that the IMF's demand to raise the price of gas is 'a difficult issue'

    Ukrainian President Petro Poroshenko hopes that the government and the International Monetary Fund will find a compromise regarding the price of gas for the population. He said this on Monday at a meeting with business representatives.

    "The complicated question is the Fund's demand to raise the gas price. Our cooperation with the IMF is an important priority for us... I have no doubt that dialogue with the fund is needed. The adoption of Stockholm's arbitration decision, the change in price …

  • IMF demands that Kyiv passes law allowing creation of anti-corruption court

    The International Monetary Fund (IMF) continues to insist that Ukrainian authorities adopt legislation for an anti-corruption court in accordance with the obligations of a country under the EFF (Extended Fund Facility) cooperation program, as stated by Gerry Rice, an official representative of the IMF, reports Interfax-Ukraine.

    “At the request of the Ukrainian authorities, an expert group from the IMF visited Kyiv to discuss technical issues of the reforms envisaged by the EFF program, …

  • Media: European Commission to consider the state of Kyiv’s cooperation with International Monetary Fund before providing further assistance

    The European Commission plans to take into account a variety of factors in deciding on a new program of macro-financial assistance for Ukraine, including the status of the country’s program of cooperation with the International Monetary Fund in particular, as noted in a written response by the Delegation of the European Union to Ukraine to a request by Evropeyskaya Pravda news outlet.

    The statement notes that European Commission must give the Ukrainian authorities' request a positive …

  • Ukrainian MP: if there was no corruption in Ukraine it would not need assistance from IMF

    It is convenient for Ukrainian authorities to blame all the problems and the adoption of controversial decisions on the alleged claims of the IMF. At the same time, the country has enough internal resources not to require additional funds from the IMF. To do this, it is necessary to move funds out of the shadow economy and fight corruption, as expressed by the People's Deputy of Ukraine, Serhiy Taruta, on the Narod Protyv (People are against)  program on ZIK TV Channel.

    "Autumn re-elections …

  • IMF advised Ukrainian authorities to resist the 'temptation' to raise salaries

    Gosta Ljungman, International Monetary Fund (IMF) Resident Representative in Ukraine, warned authorities against a sharp increase in wages, as UNIAN reports.

    "There is a temptation to increase wages very quickly, but this will be bad for the growth of the economy ... We are for increasing wages of Ukrainians, but this should be accompanied by an increase in labor productivity," he said.

    Ljungman emphasized that the leaders of Ukraine should keep the growth of salaries under control and to …

  • Ukraine owes the IMF more than 12 billion dollars

    The total debt of Ukraine to the International Monetary Fund is $12.1 billion dollars, said the Deputy Head of the National Bank of Ukraine, Oleg Churiy at a briefing.

    Churiy said, "As of today, there are obligations of the National Bank of Ukraine (NBU) to the International Monetary Fund in the amount of $7.2 billion. There are also obligations of the Ministry of Finance in the amount of $4.9 billion. The total obligations to the IMF amount to $12.1 billion."

    He noted that for today, the …

  • National Bank of Ukraine concedes an early termination of the IMF funding

    The National Bank of Ukraine believes that if Ukraine doesn’t receive the next tranche from the International Monetary Fund by July, the cooperation program will probably end, as expressed during an interview with Dmitry Sologub, NBU deputy head, with Ukrainian news.

    Sologub added, "We are reevaluating, as much as possible, but technically, the first quarter does not look viable anymore. It's more realistic to receive a tranche in the second quarter. When we receive a tranche, in the first or …