Ukraine managed to make significant progress in fulfilling its obligations to the IMF – Shmygal

Prime Minister Denis Shmygal said that Ukraine has made significant progress in fulfilling its obligations to the International Monetary Fund. “We only had a productive meeting with our international partners from the Fund. Ukraine has made significant progress in fulfilling its obligations.

Many thanks to Alfred Kammer and the IMF for the dialogue. Strong partnership with the IMF is a guarantee of Ukraine’s long-term stability, ”Shmygal wrote in a telegram. Back in early September, the head of the National Bank, Kirill Shevchenko, expressed hope that the International Monetary Fund would transfer a new tranche to Ukraine by the end of 2020.

Other representatives of the Ukrainian government made similar statements. Read also: The NBU announced a meeting of its chairman with the US Charge d’Affaires in Ukraine on May 7 after months of negotiations with Ukraine on a three-year IMF extended financing program finally abandoned it and offered a smaller stand-by program for “unprecedented uncertainty about economic and financial prospects and the need to focus political priorities on short-term containment and stabilization ”in Ukraine. On June 9, the Board of Directors of the International Monetary Fund approved an 18-month program of cooperation with Ukraine worth $ 5 billion, which will be implemented if Ukraine fulfills a number of conditions. Ukraine received the first tranche of $ 2.1 billion on June 12.

On June 1, the chairman of the National Bank of Ukraine Yakov Smoliy resigned, announcing “systematic political pressure.” His resignation, and then the appointment of Kirill Shevchenko in his place, caused considerable concern in the world, in particular in financial institutions, including the IMF, and in business circles, about the independence of the National Bank and the further course of reforms in Ukraine. The new head of the National Bank announced the continuation of partnership with the IMF.

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