Contents tagged with IMF

  • Ukraine may receive $8 billion after IMF program is unblocked

    A new program from the IMF will facilitate Ukraine’s access to funding worth $8 billion, which will help maintain a fairly stable hryvnia exchange rate next year, stated by Anders Aslund, an analyst at an American center, the Atlantic Council in an interview with the Ukrainian service of the Voice of America.

    “Most likely, Ukraine will now receive $2 billion from the IMF, as well as $ 2 billion from the EU and the World Bank. The Ukrainian government can sell Eurobonds for additional $2 …

  • Poroshenko: gas prices in Ukraine can only be lowered through 'Russian gas cabal'

    During a meeting with a team from the Accounting Chamber in Kyiv on Monday, Ukrainian President Petro Poroshenko urged Ukrainians not to believe the populists who promise to bring down the price of natural gas, because this can only be done by going back to Russian gas supply contracts. “Listen today to the populists’ promises to bring the gas price down to half, a third, a quarter – some have even agreed to lower the price to one sixth. This can only be done by returning to the Russian gas …

  • Chairman of Ukrainian Parliament: raising gas prices unavoidable

    Verkhovna Rada Chairman Andriy Parubiy said in a statement on the Ukrainian parliament’s official website that raising the gas prices is an “unavoidable decision” which is “necessary to prevent an economic crisis in Ukraine”.

    Parubiy said that the decision “is not and cannot be popular”, but that statist government leaders knowingly accept losses to their own popularity when this is necessary.

    “One of our country’s great problems is that the populists of the past led Ukraine into extremely …

  • Ukraine and IMF agree on new $3.9 billion support program

    The Ukrainian authorities and the International Monetary Fund (IMF) have reached an agreement on a new 14-month support economic policy under the Stand-by arrangement (SBA), which will replace the Extended Fund Facility (EFF) program, which began in March 2015 and was supposed to end in March 2019.

    “The new SBA, with a requested access of SDR 2.8 billion (equivalent to US$3.9 billion), will provide an anchor for the authorities’ economic policies during 2019,”  said the IMF.

    The agreement is …

  • Media: IMF’s new program for Ukraine has four conditions

    In order to be considered for a new International Monetary Fund (IMF) program, Ukraine must meet at least four conditions, Evropeiska Pravda reports.

    “It is already clear that Ukraine does not comply with 100% of the Extended Fund Facility (EFF) program signed in 2015,” the article observes.

    This is why the parties have put their money on a second option: to agree on a new, shorter collaboration program. According to government sources, the program in question would be a stand-by program for $ …

  • Media: Ukraine will not receive next IMF loan tranche this year

    The International Monetary Fund is ready to consider the allocation of the next tranche to Ukraine after the adoption of the state budget for 2019, reported the Ukrainski Novyny news agency with a reference to a source close to the talks.

    The IMF mission worked in Kyiv for two weeks and left Ukraine in the evening of September 19. Neither the Fund nor the government and the National Bank have made any comments on the outcome of the talks.

    According to the agency, the discussions held by the …

  • Ukraine and IMF agree on gradual increase in gas price

    During the negotiations with the International Monetary Fund, the Cabinet of Ministers reached a preliminary agreement to gradually increase gas prices for the population to the level of import parity until 2020, said Andriy Kobolyev, the head of Naftogaz Ukraine at the forum of the European Business Association, Interfax Ukraine reported.

     “The government has reached an initial compromise. The [price] increase rate is now being discussed,” he said.

    The head of Naftogaz said that the issue of …

  • Ukraine expects to receive the first tranche of new EU macro-financial assistance before the end of the year

    Minister of Foreign Affairs of Ukraine Pavlo Klimkin said that Ukraine could receive the first tranche of new macro-financial assistance from the European Union before the end of this year. However, he said that the funds will be received only if the International Monetary Fund's loan program is renewed.

    “Of course, we count on the IMF, but I’m sure that we will successfully finish every necessary negotiation. The international financial institutions always act in strict coordination and the …

  • IMF to open new lending program for Ukraine

    The price of gas may increase by 23.5% in October. The prices of gas for industry and the population must eventually equalize. Ukrainian authorities are discussing this scenario during negotiations with the IMF mission, reports Ukrainski Novyny News Agency, referring to its sources.

    It is noted that the parties agreed upon a new Stand-by lending program for Ukraine, which will replace the current EFF (Extended Fund Facility) program and will help avoid default and a sharp increase in gas …

  • Ukraine and the EU to sign macro-financial assistance program for €1 billion

    As stated in the European Commission’s message, Ukraine and the European Union will sign a program of macro-financial assistance for €1 billion this week. On September 13, the Vice President of the European Commission, Valdis Dombrovskis will arrive in Ukraine to sign the deal.

    He will also hold negotiations with the Prime Minister of Ukraine, Volodymyr Groysman and Minister of Finance of Ukraine Oksana Markarova, and will take part in the Yalta European Strategy forum during his two-day visit. …