Meeting of the IMF Board of Directors is expected on June 5 – minister

The meeting of the Board of Directors of the International Monetary Fund is expected on June 5, said the Minister of Finance of Ukraine Sergei Marchenko in an interview with RBC-Ukraine. “According to the information received from the Fund, the meeting is expected approximately on June 5th. This is preliminary information.

More precisely, it will be possible to say next week (interview was recorded on May 28 – ed.). Why not this month? There are internal procedures of the IMF. Plus Memorial Day – it’s a day off in the USA, he took one day from us.

And, probably, they do not have time to agree on some of the nuances, ”Marchenko said. He said that after the meeting of the Board of Directors, a tranche should be allocated. The Minister explained that the International Monetary Fund decided to change the program of cooperation with Ukraine, since it is not opening the Extended Fund Facility for anyone now.

“The main argument: the IMF says that we are in an economic crisis, and we cannot plan the program for three years. After all, EFF is a three-year program. This was the only argument.

We fought for the EFF for a long time, since we passed it 99% of the way. It was a rather unexpected story for us, ”Marchenko said. On May 22, it became known that the International Monetary Fund (IMF) has agreed with the Ukrainian authorities at the staff level on a new deal worth $ 5 billion to help Kiev cope with the economic fallout from the coronavirus pandemic.

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