IMF: there are no restrictions for cooperation with Ukraine under martial law
The International Monetary Fund stated that there are no restrictions for continued cooperation with Ukraine under martial law, Interfax-Ukraine reports.
"We are following the recent developments, including imposition of martial law, and hope for urgent de-escalation of the current situation. The IMF has no legal restrictions regarding continued cooperation with Ukraine in this situation,” stated the IMF Resident Representative in Ukraine, Gösta Ljungman.
Earlier, Minister of Foreign Affairs Pavlo Klimkin ruled out the possibility that martial law could affect cooperation with the IMF and other international financial organizations.
In October, Ukraine and the IMF reached an agreement on the new 14-month stand-by economic program of the IMF that will replace the Extending Fund Facility program approved in March 2015 and expiring in March 2019. The new program has fewer requirements for receiving the financing. One of the main requirements is adopting the budget with limited deficit.
Last week, the Verkhovna Rada adopted the 2019 State Budget-with a deficit of up to 2.3% of the GDP that was one of the conditions of the program. However, the adopted document should be analyzed for consistency with the reached agreements.