Contents tagged with IMF

  • Ukrainian Finance Minister says that progress has been made in negotiations with IMF on gas tariffs in Ukraine

    Finance Minister Oleksandr Danylyuk announced progress in negotiations with the International Monetary Fund on the price of gas. Ukraine has been attempting to postpone the increase of tariffs by changing the price formula, whereas the IMF demands that this issue be depoliticized.

    "We have not reached a final agreement yet, but we have progress, established certain principles. Negotiations continue," Interfax-Ukraine quoted Danylyuk as saying at a briefing in Washington where he met with the …

  • Ukrainian Finance Minister: Kyiv may receive next IMF tranche by end of year

    Ukrainian Finance Minister Oleksandr Danylyuk believes that Kyiv may receive the next IMF credit tranche by the end of this year, Radio Liberty reports.

    “We expect the tranche by the end of the year,” Danylyuk said on October 15 during a briefing in Washington at the conclusion of negotiations with the IMF leadership.

    According to him, this will depend on agreements regarding the price of gas for the public. During the negotiations, Danylyuk explains, certain progress was achieved in this …

  • Ukrainian Minister of Finance: Privatization and creation of anti-corruption court are IMF’s conditions for next tranche

    Ukraine has come close to implementing the recommendations of the International Monetary Fund (IMF) in order to receive the next tranche as part of the Extended Fund Facility (EFF), and so there is reason to expect that it will be allocated by the end of the year, said Ukrainian Finance Minister Oleksandr Danylyuk.

    “I consider it realistic that we will receive the tranche this year,” the head of the Finance Ministry said during a panel discussion at the Atlantic Council’s analytic center in …

  • Despite obligations to IMF, Ukraine decides not to increase gas tariffs

    The Ukrainian government has postponed the publication of import parity gas prices from October 1, 2017 until March 31, 2018, as reported by Ukrainian News, citing the Cabinet's resolution dated September 26th.

    "[It is decided] to agree with the Ministry of Energy and Coal Industry’s proposal on the postponing of the relevant information [publication of the price]," the document says.

    It was decided to postpone the price promulgation until the mechanism by which the process is determined is …

  • IMF calls on Ukraine to carry out pension reform

    The International Monetary Fund (IMF) said that the decisive condition for the revision of the cooperation program with Ukraine is the pension reform implementation. It was stated by IMF official representative William Murray during a briefing in Washington, Interfax-Ukraine reports.

    "We call on the authorities and parliament to ensure that the bill on increasing pensions reaches the reform goals that have been developed by the IMF and the World Bank. We are ready for further cooperation with …

  • IMF: Ukraine has proven itself capable of implementing reforms

    The International Monetary Fund believes that Ukraine is able to implement the necessary reforms that would stimulate economic growth. This was said by the Resident Representative of the IMF in Ukraine, Goesta Ljungman, during the Ukrainian financial forum in Odessa, Ukrinform reports.

    "What amazes me since I came to Ukraine is how much has been achieved over the past three years. In the historical context, it's a lot. I can say that we see, so to speak, the "appetite" for reforms. The last …

  • IMF: New tranche for Ukraine only possible once Ukraine has fulfilled its obligations

    The fourth revision of the International Monetary Fund’s (IMF) program as part of the Extended Fund Facility (EFF) will be possible only once the Ukrainian authorities have fulfilled the obligations they have taken on, said IMF permanent representative Gösta Ljungman.

    “A fourth revision of the IMF board of executive directors’ program will be possible only after the necessary measures are taken for completing this revision. It will focus on pension reform, on measures aimed at speeding up …

  • IMF: In order to obtain the fifth tranche, Ukraine must show results in the fight against corruption

    The International Monetary Fund listed the conditions for Ukraine to receive the fifth tranche of the IMF loan. According to the fund, Kyiv must approve pension reform, accelerate privatization, and show results in the fight against corruption, UNIAN reports.

    "Regarding the fourth revision, we expect that it will be possible after the legislation necessary for the revision is adopted," IMF Director of Communications, Gerry Rice said. "The key issues are pension reform, steps to accelerate …

  • Ukraine repaid $450 million to the IMF

    Ukraine repaid the International Monetary Fund (IMF) $450 million borrowed under the Extended Fund Facility (EFF) program that commenced in 2014.

    "We paid today," a representative of the National Bank told Ukrainski Novyny news agency.

    Ukraine is supposed to repay a total of 16.836 billion UAH this year (approximately $650 million USD), as stated in the program approved by the Ministry of Finance for managing the national debt for 2017.

    In March 2015 the IMF opened a four-year EFF program …

  • IMF reminded Ukraine about pension reform and privatization necessity

    The International Monetary Fund indicated that in order to continue cooperation with Ukraine, it is necessary for Ukraine to adopt pension reform and accelerate privatization, as stated by a representative of the fund, William Murray, at a press briefing.

    "The fourth revision of the program by the directors’ board is possible after the required reforms are implemented. The main ones are pension reform, accelerating privatization, and specific results in the fight against corruption," he said. …