: Ukraine to possibly get more funding from International Monetary Fund

13:05 Apr. 18, 2016

Ukraine to possibly get more funding from International Monetary Fund

Valeria Gontareva, National Bank chief. (UNIAN Photo)

IMF postponed the financial aid to Kyiv until the political crisis in the country was solved

Ukraine will continue further cooperation with the International Monetary Fund. The IMF mission is expected to arrive in Kyiv in the nearest future. This agreement was reached during a meeting between the head of Ukraine's National Bank Valeria Gontareva and the IMF managing director Christine Lagarde.

"Gontareva emphasized on the necessity to implement reforms in accordance with the program agreed with the IMF. Lagarde, in turn, assured the institution will continue to support Kyiv on it's way to economic changes," reports the U.S. embassy in Ukraine.

The exact date of the Monetary Fund visit to the country is yet to be revealed.

The IMF delayed the aid to Ukraine until the new government was elected. Now the organisation is ready to complete the second review of the Extended Fund Facility (EFF), which was endorsed in March 2015.

The four-year EFF program was originally worth around USD 17.5 billion divided into eight installments over two years. However, Kyiv only received the first two installments in 2015. IMF expects Ukraine to implement further reforms to obtain the rest of the money.


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