IMF mission commences work in Ukraine
On June 24 Minister
of Finance of Ukraine Olexandr Shlapak met with the
mission of the International Monetary Fund headed by Nikolay
Georgiev. This event launched the first considering
of the Stand-by loan program by the fund’s mission on the results of which they
will take a decision concerning providing a second loan to Ukraine .
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It should be
mentioned in late April the IMF Council approved a two-year credit for Ukraine’s
economy worth USD 17.01 billion. The first tranche was transferred in early
May worth USD 3.19 billion. According to Nikolay Georgiev it is crucial
to analyze what has been done from the moment the program was launched.
Hence, the technical IMF mission has to primarily study the state of
execution of structural beacons by end of May. Peculiar
attention will be paid to the state of economic reforms and execution of
budget showings. In particular, the Mission will analyze the current state of
implementation of the budget (January-May, 2014) and by the end of year as
well. The Finance
Minister of Ukraine assured the Ukrainian side is open for dialog and
cooperation. He also noted forming of draft budget for 2015 is passing an active
stage. In the end of the
week Minister of Finance of Ukraine Olexandr Shlapak
is due to meet with Deputy Director of the IMF European department Poul
Tomsen, which is planned for in order to discuss all the lines of the first
considering of the joint with the IMF Stand-by program. On the outcomes
of the IMF mission there will be signed a Memorandum on economic policy. |