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 Washington.
Rice reported on the meeting of Ukraine’s Minister of Finance with representatives of the IMF that took place on the 15th of June. The issues that needed to be resolved before the meeting of the IMF Board of Directors were discussed.
Earlier, Ivan Mikloš, the Senior Economic Advisor to the new Prime Minister of Ukraine, stated that Ukraine will most likely be required to adopt more laws in order to meet the IMF requirements for receiving the $1.7 billion tranche set aside from the previous year.
“If the whole amount is not received, then it will be divided into two parts with the first part being received in July,” Mikloš stated in his interview with Reuters, referring to an expected sum of $1 billion.
The Verkhovna Rada of Ukraine has not yet considered all laws necessary for the IMF decision. However, the government expects that it will happen before the end of May.