Contents tagged with IMF
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IMF asks Ukraine to show results in the fight against corruption
The International Monetary Fund (IMF) has urged Kyiv to expedite the implementation of necessary reforms to stabilize the economic situation in the country. The IMF also expects Kyiv to show concrete results of their fight against corruption. This was stated in a report of the IMF mission, which was published on the 3rd of October.
According to the IMF, these reforms are still being met with opposition in Kyiv. The organization mainly requires a pension reform, and the creation of a special …
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Ukraine hopes to receive $1 billion tranche from IMF
Ukraine hopes to receive the fourth part of funds, in the amount of $1 billion under the guarantee of the U.S Government, Interfax-Ukraine reported, citing the Ministry of Finance of Ukraine.
“In addition to the continuation of technical assistance, we look forward to further cooperation in an effort the get $1 billion under the guarantee of the U.S. Government. The loan guarantees will provide for urgent budget needs at low interest rates based on the results of the implementation of reforms,” …
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Russia will vote against IMF's third tranche to Ukraine
The Russian representative of the International Monetary Fund will vote against allocating the third IMF tranche to Ukraine. Minister of Finance of the Russian Federation Anton Siluanov declared this on September 12.
“Our position has always been open, and today we will give an order to our representative at the IMF, that when considering the assignment of the tranche to Ukraine, we will vote against this decision because we believe that it was not accepted in accordance with the rules. In IMF’ …
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IMF to consider next tranche to Ukraine on September 14
The IMF will consider the allocation of the next tranche of financial assistance to Ukraine on the 14th of September, 2016 as evidenced by information in the schedule of meetings of the Executive Board of the Fund, posted on the IMF website.
The President of Ukraine, Petro Poroshenko, said that the IMF has officially included this issue in the agenda after his conversation with the MD of the Fund, Christine Lagarde. "At the end of my conversation with Christine Lagarde, the International …
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Ukrainian Finance Minister: We are not in urgent need of funds from the IMF
Ukraine does not have an urgent need for the International Monetary Fund’s (IMF) money. This was said by the Ukrainian Minister of Finance, Olexandr Danylyukin on Persha Shpalta TV program of Ukrainian 1TV channel.
“The issue at the moment is not the money that we may need from the IMF. We don't have a need for it now as our reserves, which include our gold and foreign currency, are stable. However, we may have a need for these funds in a few months’ time. We are working with the IMF not only …
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IMF board of directors to consider further cooperation with Ukraine next month
The issue on the International Monetary Fund’s continued cooperation with Ukraine on the EFF program will be taken under consideration by the IMF Board of Directors in July, reported Jerry Rice, the official representative of the IMF. “When can we expect the meeting of the Board of Directors? We expect that it will take place in July after the implementation of preliminary conditions by Ukraine, which are necessary for fiscal and financial stability,” Rice stated during a press briefing in …
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Ukraine may receive next installment of IMF loan in July
The final decision on granting Ukraine the next loan installment will be made by the IMF Board of Directors after analysis of the reforms and commitments made in June, the IMF Resident Representative in Ukraine, Jerome Vacher, said.
"We will decide on it [whether to grant the tranche] not only according to the promises, but also, more importantly, on the actions taken towards reforms. We look at the policies that will be conducted next month. This is what we will evaluate, and on the basis of …
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Moody's improved the outlook for Ukraine's banking system
Moody's Investors Service changed the outlook for Ukraine's banking system from “negative” to “stable,” according to the agency’s press release. The change in outlook reflects their view that the country’s economy has started to emerge from a deep recession and will continue to do so in the next 12 to 18 months, which will help contain further asset quality deterioration.
In turn, improved funding conditions will support core lending and the local currency's recent stabilization will help slow …
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Ukrainian Finance Minister: Ukraine and the IMF will sign a new memorandum on cooperation in the coming weeks
Ukraine and the International Monetary Fund may sign an updated memorandum of cooperation in the coming weeks, according to Finance Minister Olexander Danylyuk, Interfax-Ukraine reported.
“Now that a new government is appointed… the agreement on a new memorandum will come in a matter of weeks,” Danylyuk said in an interview which was published on the Ministry’s website.
According to the newly-appointed Finance Minister, the break in cooperation with the IMF was due to the political …
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IMF says it is ready to help Ukraine implement reforms
Ukrainian Prime Minister Vladimir Groysman and the Director of the IMF's European Department, Poul Thomsen, discussed the further cooperation between Ukraine and the IMF.
"At hard times like this, support is of utmost importance for Ukraine, especially the support of the IMF. But we also consider our cooperation as an opportunity to implement structural reforms which will make it possible to transform Ukraine from a post-Soviet state into a modern European country," Groysman stated during the …