Contents tagged with IMF
-
What the IMF demands from Ukraine in exchange for allocated tranche
On April 3, the Board of Directors of the International Monetary Fund (IMF) approved the allocation of $1 billion credit to Ukraine. The four-year program of financial aid from the IMF allocates $17.5 billion to Ukraine. Kyiv has already received three tranches totaling $7.7 billion. The last tranche was received in September 2016. In 2017, Ukraine plans to receive about $5.4 billion from the IMF. And now the fourth tranche in the amount of $1 billion has begun to be transferred to the reserves …
-
London's High Court of Justice's decision on 'Yanukovych's debt' case will not affect cooperation between Ukraine and the IMF
The IMF acknowledged the London's court decision on the case regarding Ukraine’s debt to Russia, but indicated it did not influence their current agreement with Ukraine, as was reported by Interfax-Ukraine.
The Board of Directors of the International Monetary Fund (IMF) has stated that they are not influenced by the decision of the High Court of Justice in London in a lawsuit by the Russian Federation regarding the $3 billion worth of Eurobonds owed to them by Ukraine, as indicated in the Fund’ …
-
IMF calls on Ukraine to continue its attempts to reach an agreement with Russia on 'Yanukovych's loan'
The International Monetary Fund (IMF) urged Ukraine to continue its attempts to reach an agreement with Russia on the so-called "Yanukovych loan", which refers to Eurobonds that were sold to Russia in late 2013 shortly before the flight of President Viktor Yanukovych from Ukraine.
This was stated in a message sent out by the Fund after the completion of the third review of its program of cooperation with Ukraine.
"Ukraine’s international partners have provided substantial financial and …
-
IMF confirms its decision to allocate $1 billion to Ukraine
The Board of Directors of the International Monetary Fund (IMF) completed the third review of the economic program of Ukraine within the framework of Extended Fund Facility (EFF). Completion of this review allows for the allocation of 734.05 million SDR (Special Drawing Right of about 1 billion dollars).
Thus, the total amount allocated to Ukraine will increase to 8.38 billion dollars from 2015.
This is affirmed in a statement issued by the Fund after the completion of the third review of the …
-
The leader of the Justice civil-political movement: The IMF will send special auditors to Ukraine
The leader of the Justice civil-political movement, Valentyn Nalyvaichenko announced on 112 TV channel that the IMF plans to send special auditors to Ukraine in the near future. “Auditors will check how previous loans were used and at the same time they will make certain that there was no corruption involved."
Nalyvaichenko also stressed that international and financial partners regard the fight against corruption in Ukraine as the main exhaustive condition for further cooperation with the …
-
The IMF will meet on April 3rd to discuss continuation of cooperation with Ukraine
The International Monetary Fund (IMF) will consider the continuation of cooperation with Ukraine on April 3. This was stated by the Resident Representative of the IMF in Ukraine, Jerome Vacher. Later, the date of the meeting on Ukraine appeared on the official website of the IMF.
Earlier, a meeting on the allocation of $ 1 billion to Ukraine was scheduled for March 20, but the IMF has postponed it. Prime Minister of Ukraine Volodymyr Groysman said that the delay was caused by the change in the …
-
National Anti-Corruption Bureau of Ukraine conducts searches of National Bank
On March 29, the National Anti-Corruption Bureau of Ukraine (NABU) conducted searches on the premises of the National Bank of Ukraine (NBU). The NBU press-service reported that the searches and seizure of documents were done in accordance with the ruling of the Solomyanskiy District Court. However, the NBU did not specify which criminal proceedings this relates to.
Vitaly Bala, analyst at the Situations Modeling Agency, believes that the searches at the National Bank are in connection with the …
-
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 …