12:12 May. 5, 2016
Finance Minister assures Ukraine is ready for IMF visit
The mission of the International Monetary Fund (IMF) will be visiting Kyiv May 10 through May 18, according to Ukrainian newspaper Ekonomichna Pravda, which cited a government source.
The mission will continue the second review of the Extended Fund Facility (EFF) adopted for Ukraine.
IMF experts, who will be led by Ron van Rooden, will focus on the assessment of fiscal and monetary indicators in the framework of the reform agenda supported by the IMF and being implemented by Ukraine.
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The four-year EFF program worth about USD 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 USD 5 billion on March 13, 2015, and the second one worth USD 1.7 billion arrived on August 4, 2015.
The second review is currently 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.
The disbursement of the third tranche is vital for Ukraine as it will help unlock further financial assistance from Ukraine's international partners, it is noted.
Ukraine's Finance Minister Oleksandr Danylyuk told reporters that the Ukrainian authorities were ready for the IMF mission visit, and First Deputy Prime Minister Stepan Kubiv noted Ukraine should have developed by May 1 a specific plan of work with the Fund for the near future.
In late April, Prime Minister Volodymyr Groysman stated the government was engaged in active dialogue with the IMF and would soon outline reform program priorities.