Contents tagged with IMF
-
Ukraine is ready to sign a memorandum with the IMF paving the way for the fourth tranche
On the evening of March 1st, the International Monetary Fund (IMF) sent Ukraine the final version of the Memorandum of Economic and Financial Policies under an Extended Fund Facility (EFF). Its signing will allow the Fund to consider the allocation of a fourth tranche to Ukraine amounting to $1 billion within the program as announced on Thursday, March 2nd, by the Chairwoman of the National Bank of Ukraine (NBU), Valeriya Hontareva, during a press conference in Kyiv. "On the part of the NBU, …
-
Media: Ukraine’s negotiations with the IMF on a new tranche have taken longer than expected
Ukraine and the International Monetary Fund (IMF) have not yet concluded negotiations about granting Kyiv the fourth tranche under the Extended Fund Facility program (EFF) in the amount of $1 billion. This was reported by the Ukrainian News Agency.
According to the interlocutors of the agency, the parties still cannot agree on the time-frame of implementing the land and pension reforms in Ukraine.
"According to the optimistic scenario, if the pension and land reforms issues are agreed this …
-
The debts of major Ukrainian businessmen are far more than Kyiv plans to borrow from the IMF
The debts of major businessmen are a million times more than Ukraine plans to borrow from the International Monetary Fund until 2018, as stated in the article “Business Behind the Curtain” by Andrey Kaut in a business.ua periodical.
The edition assessed the amount of debt of major businessmen to domestic and foreign-owned banks and other creditors and compared the debt with the cost of their assets, specified in public research on financial situations of the richest Ukrainians. “The richest …
-
Ukraine is expecting four tranches from the IMF and two from the EU in 2017
Ukraine expects to receive four tranches in 2017 from the International Monetary Fund’s credit program and two tranches from the micro financial assistance program of the European Union, as was stated at a press conference on Thursday, 26 January, by the Chairwoman of the National Bank of Ukraine. Valeriya Hontareva and Deputy Governor, Dmytro Sologub.
Hontareva stated that in the near future, Ukraine will receive the first of the planned tranches from the IMF. "The next tranche we plan to …
-
Ukrainian experts react to new IMF requirements
On January 16, Evropeyska Pravda newspaper published a document that it calls the latest version of the memorandum on cooperation between Ukraine and the IMF. To receive the next billion-dollar tranche, Ukraine must meet 12 requirements, seven of which are new. The requirements include carrying out pension reform by raising the retirement age to 63 years, selling the land, abolishing the simplified tax system, dealing with the registry of the recipients of social payments and other unpopular …
-
IMF presents fresh demands to Ukraine
Ukraine should implement a pension reform, reduce the number of state employees, abolish the simplified tax system and open a land market, Ukrayinska Pravda reported, referring to the recent version of the Memorandum of Cooperation between Ukraine and the International Monetary Fund.
“The draft Memorandum of Cooperation provides in total for 12 structural beacons, seven of which are new,” the edition wrote. As noted in the report, the Cabinet of Ministers should take two steps, firstly, make a …
-
Ukraine expects to receive a new tranche of the loan from the International Monetary Fund
The Cabinet of Ministers expects that the amount of the 4th tranche of the IMF loan within the EFF program that Ukraine can receive in February will amount to $1 billion, Ukrainian News reported with reference to a government source. The funds are earmarked for replenishing the reserves of the National Bank.
In November, they discussed the possibility of allocating approximately $18 billion but now, the expected amount is about only $1 billion. The final amount of the tranche will be known …
-
Ukraine received 55 million Euros from the European Union
Ukraine received the second and final tranche of financial assistance from the European Union that amounts to 55,125,000 Euros. The first tranche of 250 million Euros was allocated in July 2014.
"This assistance means the recognition of the reforms by the EU," the Finance Ministry of Ukraine reported.
The Ministry stressed that the funds were provided to Ukraine after the European Commission assessed the implementation of reforms in the areas of combating corruption, improving public …
-
Head of Ukraine's National Bank: Ukraine must cooperate with the IMF or our reserves will melt away
The delay in resumptions of relations with the International Monetary Fund (IMF) poses a risk for Ukraine’s financial stability, as was stated by the head of the National Bank of Ukraine (NBU), Valeriya Hontareva, at a conference in Kyiv, UNIAN reports.
“I want to tell you that no one has any doubt that if we don’t resume cooperation with the IMF immediately … our reserves will start to melt as well as our market’s possibilities,” she said.
The Head of the NBU noted that this year the …
-
IMF believes Ukraine's fight against corruption is too slow
The International Monetary Fund (IMF) has conducted an analysis of Ukraine’s economic situation as a result of the organization’s financial support programs to the country.
According to UN Radio, IMF experts concluded that the Ukrainian authorities have managed to implement a number of important economic measures. This is in spite of political tensions which resulted in a change in government in April this year. The experts especially made note of budget adjustments, an increase in gas and …