: :inin Kyiv (EET)

IMF hoping to finalize next week negotiations on 3rd loan tranche for Ukraine

The International Monetary Fund (IMF) has denied reports about any delays of negotiations with Ukraine on the next loan tranche over the possible resignation of National Bank of Ukraine (NBU) Governor Valeria Gontareva, according to the IMF`s press service.

Responding to the request by Voice of America, the press service said that significant progress had been made in decision-making required for the completion of the IMF`s third review. The press service added that the remaining issues were being discussed, expressing hope that all such issues would be settled shortly.

According to the press service, the IMF was expected to offer the Executive Board to complete the review as early as next week.

At the same time, the IMF issued no comment on the possible resignation of NBU Governor Valeria Gontareva, saying they do not comment on rumors.

Earlier it was reported that the Executive Board of Ukraine`s key creditor, the International Monetary Fund, was not going to consider the Ukrainian issue in the coming week.

Earlier, in September 2016, after more than a year`s break, Ukraine has resumed cooperation with the IMF under the four-year Extended Fund Facility (EFF) worth $17.5 billion. Under this program, Ukraine has already received three loan tranches, totaling $7.62 billion. Ukraine expected to receive the fourth $1 billion tranche by the end of 2016, having fulfilled the key requirements, namely the adoption of the budget for 2017 and nationalization of the country`s largest bank, PrivatBank.

However, the IMF Executive Board meeting on the Ukrainian issue and allocation of money was delayed several times: first, for January, then for early February, and now for the beginning of March.

Meanwhile, it order to hold such a meeting, Ukraine and the IMF are required to sign a letter of intent, followed by a memorandum, which would identify key beacons of the reform program implementation for the coming months. These beacons are expected to be land and pension reforms.


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