A new mission of Ukraine`s key lender, the International Monetary Fund (IMF), arrived in Kyiv and started work on May 16, as was planned earlier, according to the IMF Resident Representative Office in Ukraine.
The current mission will analyze the country`s implementation of the Extended Fund Facility (EFF), which could result in the fourth review of the program after which the IMF may extend its fifth disbursement to Ukraine.
Earlier, the IMF Executive Board on April 3 completed the third review of the EFF.
On April 5, the National Bank of Ukraine announced the receipt of $1 billion from the IMF, which together with the second disbursement of the European Union macro-financial assistance received the day before allowed the expansion of the country`s international reserves to $16.7 billion, the highest level since the middle of 2014.
The IMF urged the Ukrainian authorities to accelerate structural reforms to achieve faster and more sustainable growth, starting with the privatization and development of the agricultural land market. However, the IMF stressed that corruption needs to be tackled decisively.
Moreover, Ukraine cannot any longer delay comprehensive pension reform, including by raising the effective retirement age, the IMF said.
