Contents tagged with IMF

  • Tranche allocation to Ukraine disappears from IMF timetable

    The allocation of money to Ukraine has disappeared from the meeting agenda of the executive board of the International Monetary Fund, the fund’s website shows. The provision of the next tranche had been scheduled for March 20.

    The IMF issued a press release regarding the postponement of the session, saying: “A short delay is necessary to assess the developments and policy measures affecting the financial sector and wider economic prospects”.

    The Ukrainski Novyny news agency, citing a source …

  • Ukraine’s Ministry of Finance explained the IMF's requirements

    The Minister of Finance of Ukraine, Oleksandr Danylyuk, disclosed the details of the updated memorandum of the International Monetary Fund or IMF, UNIAN reports. The new memorandum contains provisions on pension, land, banking and other important reforms.

    "In fact, we need to understand the main thing that the IMF wants; and what we want is a fair, balanced pension system," Danylyuk said.

    He said that to achieve this goal it would be necessary to carry out pension reform that would balance …

  • The IMF reached agreement on an updated memorandum of cooperation with Ukraine

    The International Monetary Fund (IMF) has reached an agreement with Ukraine on an updated Memorandum of Economic and Financial Policies. As a result, during the second half of March, IMF’s Executive Board will consider the allocation of another tranche of $1 billion to Kyiv, as was indicated in the Fund’s press release on Saturday, March 4th.

    In March 2015, the IMF approved a four-year loan program worth USD 17.5 billion to support economic reforms in Ukraine. It provided for quarterly …

  • 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 …