A mission from the International Monetary Fund (IMF) led by Ron van Rooden has arrived in Kyiv and will work until May 18, the Ukrainian Finance Ministry`s press service reported.
”The mission has arrived and started its work,” the press service said.
IMF experts are expected to meet with Ukrainian officials, they will focus on discussions and finalizations of the second review of the Fund`s Extended Fund Facility (EFF) adopted for Ukraine in March 2015.
The four-year EFF program worth about $17.5 billion originally foresaw quarterly reviews of the program, the disbursement of four tranches to Kyiv in 2015, another four in 2016. However, at present, the country has received only the first tranche worth $5 billion on March 13, 2015, and the second one worth $1.7 billion arrived on August 4, 2015.
The second review is under way, as Ukraine and the IMF are in talks on a wide range of issues, which includes various aspects of monetary, banking and anti-corruption policies, the pension reform and the privatization process. Based on results of the review, a memorandum should be signed between the Ukrainian government and the IMF`s Executive Board.
Ukraine`s Finance Minister Oleksandr Danylyuk said the restoration of cooperation with the Fund was vital for Ukraine as it would help unlock further financial assistance from Ukraine`s international partners.
As UNIAN reported earlier, the IMF has maintained its economic growth forecast for Ukraine in 2016 at 1.5% and inflation at 15.1%.
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