Ukraine's central bank expects launch of new program with IMF in Q4

REUTERS The National Bank of Ukraine predicts the launch of a new structural financing program with the International Monetary Fund (IMF) and the disbursement of US$2 billion as part of it in the fourth quarter of 2019. "We expect that there will be a new program with the IMF most likely in the fourth quarter this year. It will be launched this year, and Ukraine will receive US$2 billion, and [there will be] US$2 billion each subsequent year," NBU Deputy Governor Dmytro Sologub told journalists at a briefing, stressing that this is an expert opinion given in the regulator&#39;s projections. Read alsoUkraine in "very active" talks with IMF over longer aid program – Bloomberg Referring to other countries&#39; experience and Ukraine&#39;s quota in the IMF, the NBU estimated the possible duration of the new structural financing program at 36-48 months, or three to four years, and its potential amount is projected between US$5 billion and US$10 billion. Sologub stressed that continued cooperation with the IMF is important for reducing the cost of loans for Ukraine and attracting foreign investors. As UNIAN reported earlier, the IMF mission worked in Ukraine in May this year to assess the conditions for disbursing a new tranche worth US$1.3 billion to Ukraine under the current Stand-By Arrangement (SBA) and to probe into the issue related to liability for illegal enrichment, which was canceled by the Constitutional Court of Ukraine in February 2019. Prior to the mission&#39;s arrival in Ukraine, newly elected President Volodymyr Zelensky announced the disbanding of the parliament and appointed an early parliamentary election for July 21. He also proposed that the incumbent government step down. The IMF stated it would resume negotiations on further cooperation with Ukraine after the election and the formation of a new government.

Ukraine's central bank expects launch of new program with IMF in Q4

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