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IMF mission to visit Kyiv mid-May

The mission will continue the second review of the Extended Fund Facility.

IMF mission to visit Kyiv mid-May

The mission of the International Monetary Fund (IMF) will be visiting Kyiv May 10 through May 18

The mission will continue the second review of the Extended Fund Facility (EFF) adopted for Ukraine.

IMF experts, who will be led by Ron van Rooden, will focus on the assessment of fiscal and monetary indicators in the framework of the reform agenda supported by the IMF and being implemented by Ukraine.

"The mission will continue at political level the discussions with Ukrainian authorities in the context of the second review of the program, supported by funding under the EFF agreement," IMF Resident Representative in Ukraine Jerome Vacher said in a release.

Ukraine's Finance Minister Oleksandr Danylyuk told reporters that the Ukrainian authorities were ready for the IMF mission visit, and First Deputy Prime Minister Stepan Kubiv noted Ukraine should have developed by May 1 a plan of work with the Fund for the near future.

In late April, Prime Minister Volodymyr Groysman stated the government was engaged in active dialogue with the IMF and would soon outline reform program priorities.

Ukraine since last September could not get the third tranche of the IMF loan. In recent years, the Fund was waiting for the situation to clear up around the Ukrainian government and the coalition.

Opened in March 2015, the four-year EFF IMF program for Ukraine at worth 17bn originally envisaged a quarterly review, and the allocation to Kyiv four tranches in 2015, and four more in 2016. However, the country has received to date only the first tranche of 5bn dollars, and the second at 1.7bn dollars.

On 10 February, the head of the IMF, Christine Lagarde, said that Ukraine's funding program may be suspended due to slow progress demonstrated by Ukraine in improving governance, fighting corruption and reducing the influence of vested interests on politics.

One of the IMF preconditions for the loan was an increase in gas prices and the adoption of 19 bills by Ukraine.