: Bloomberg: Ukraine seen resuming IMF loan in summer as graft ranking stuck

09:48 Apr. 7, 2016

Bloomberg: Ukraine seen resuming IMF loan in summer as graft ranking stuck

International Monetary Fund chief Christine Lagarde answers a question during a press conference, in Lima, Peru, Thursday, Oct. 8, 2015 (AP Photo)

Place in annual corruption index won't move much, survey shows

The International Monetary Fund will probably resume disbursements to Ukraine from a USD 17.5 billion bailout loan this summer, though the nation is unlikely to make much headway in worldwide corruption rankings during the next year.

Read also Ukraine, IMF not in talks on new cooperation program – Jaresko

Transfers from the Washington-based lender, delayed for half a year, will restart in August, according to three of eight economists in a Bloomberg survey. Two said cooperation will be restored in June, while one each saw it happening in April, May or September.

Gridlocked Ukrainian politics have stalled the IMF loan, clouded the outlook for recovery from a 1 1/2-year recession and raised the specter of early elections. President Petro Poroshenko has called for a decision on a new government next week to end the uncertainty.

Wath also UT Viewpoint with Paula Jon Dobriansky 'For IMF further support, we have to prove it's not just one or two reforms, but a way forward'

With foreign donors warning that failure to tackle corruption endangering billions more in bilateral aid, the hryvnia has plunged 18 percent against the dollar in the past six months.

"The IMF money isn't critically needed from a short-term perspective, therefore no material progress is expected until later in the summer months," said Gunter Deuber, an analyst at Raiffeisen Bank International in Vienna. "Muddling through is likely to continue for some time." Full story

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