Media: European Commission to consider the state of Kyiv’s cooperation with International Monetary Fund before providing further assistance
The European Commission plans to take into account a variety of factors in deciding on a new program of macro-financial assistance for Ukraine, including the status of the country’s program of cooperation with the International Monetary Fund in particular, as noted in a written response by the Delegation of the European Union to Ukraine to a request by Evropeyskaya Pravda news outlet.
The statement notes that European Commission must give the Ukrainian authorities' request a positive evaluation before introducing relevant legislative proposals to the European Parliament (EP) and EU Council (EC). On Wednesday, the EC "held a positive discussion ... based on the assessment (of the needs of Ukraine)," the diplomatic mission said.
"This estimate is made up of an economic assessment, including the position of Ukraine's balance of payments and external financial needs," the report said.
"It is extremely important for the national program of cooperation with the IMF to remain in place, as this is a prerequisite for macro-finance operations," the EU said.
In addition, in line with customary practice, the European Commission will prepare a package of political conditions necessary for the allocation of funds. These conditions will be discussed at a later stage.
"These reforms and political conditions will be embodied in a new Memorandum of Understanding agreed upon by the two sides," the EU mission said in response.
The European Commission is ready to offer Ukraine a new package of one billion euros in macro-financial assistance despite the country’s shortfall in implementing the requirements of the previous program.