”Slight” delay in cooperation with IMF – Finance minister

There is a ”slight” delay in cooperation between Ukraine and the International Monetary Fund (IMF) ahead of the disbursement of the third loan tranche, Ukrainian Finance Minister Oleksandr Danylyuk said at an expert forum in Kyiv.
The minister also noted that such delays are not unusual in the cooperation process and will not jeopardize further cooperation between the parties.
The delay in the disbursement of loan funds to Ukraine will not affect the hryvnia exchange rate, Danylyuk assured.
”I do not see any prerequisites for the exchange rate to react to this, one way or the other. The situation with the reserves is stable enough, they are growing, so I do not see any prerequisites for exchange rate fluctuations,” the minister stated.
As UNIAN reported earlier, the IMF Executive Board, Ukraine`s key creditor, has not included the Ukrainian issue on the agenda of its upcoming meetings scheduled until July 29 (inclusive).
Earlier, IMF Chief Spokesman Gerry Rice stated that the meetings of the IMF`s executive directors will resume only in late August-early September, following the traditional three-week vacation. According to Rice, the Ukrainian issue, which concerns the second review of the cooperation program, approved in March 2015, may take place in September.
At the same time, Ukrainian Prime Minister Volodymyr Groysman argued that the country had fulfilled all the key requirements of the reform program, concerning both the government and the parliament, and expected the disbursement of the third tranche, worth $1 billion, by the IMF.
UNIAN memo. The IMF in March 2015 approved the Extended Fund Facility lending program, totaling $17.5 billion, for a four-year period. Ukraine received the first tranche of the program, amounting to $5 billion, on March 13, 2015. The second, worth $1.7 billion, was allocated on August 4, 2015.
Till date, the parties have agreed on all issues with regard to the second review of the reform agenda and discussed various monetary issues, banking, anti-corruption policy, pension reform, and privatization.
However, a memorandum stipulating further obligations of the parties has not been signed yet.

Avatar photo

UaPositon

An independent media focused on Ukraine.
Follow us on social media:
Facebook
Twitter
Instagram

Submit a Comment

Your email address will not be published.

Share This

Share this post with your friends!