Ukrainian Finance Minister: We are not in urgent need of funds from the IMF
Ukraine does not have an urgent need for the International Monetary Fund’s (IMF) money. This was said by the Ukrainian Minister of Finance, Olexandr Danylyukin on Persha Shpalta TV program of Ukrainian 1TV channel.
“The issue at the moment is not the money that we may need from the IMF. We don't have a need for it now as our reserves, which include our gold and foreign currency, are stable. However, we may have a need for these funds in a few months’ time. We are working with the IMF not only because of money,” Danylyuk said.
He explained that cooperation with the IMF is a definite signal to investors that the government is moving in the right direction with regard to implementing reforms in Ukraine.
He also said that the issue of the IMF tranche has again been postponed due to the IMF’s schedule.
The IMF still does not know the exact date of the meeting regarding the funds for Ukraine. It will however not happen before the end of August or the beginning of September.
Ukraine has not received a tranche from the IMF since the end of last year. The government is expecting to obtain a second reduced tranche before the fall, even though it was expected by early summer.