Government spares no effort to continue cooperation program with the IMF

Ukraine's cooperation with the International Monetary Fund (IMF) is an important signal for international partners of macro-stability of the country and ability to fulfill all obligations, Minister of the Cabinet of Ministers of Ukraine Olexandr Saienko said in an interview with the Obozrevatel portal.

 "The Government makes every effort to continue the program. We have a few  focal issues, in particular the creation of the Anti-corruption Court, the formation of gas formula... Now the challenge is to carry out  the existing program. Successful implementation of this program will open the opportunity to consider the launch of a new one", Olexandr Saienko emphasized.

Answering the question about the possibility of a default without the IMF program, the Minister denied this fact and added the core objective for the Government is to continue cooperation with the IMF.

Background

A four-year extended arrangement under the Extended Fund Facility for Ukraine stipulates for disbursement of USD 17.5 billion. In March 2015, the first tranche to the tune of USD 5 billion was allocated, in August 2015, the second tranche worth USD 1.7 billion was disbursed.