"The shortfall of external financing complicates the situation. We will be forced to take extremely unpopular measures, including a reduction in budget spending," the minister stated, epravda.com.ua wrote.
He said the government is hoping for a base-case scenario – the arrival of an IMF tranche and further implementation of the program.
Read alsoFinance Minister: New IMF tranche depends on full operation of e-declaration"Cooperation with the IMF is a task not only for the current year, since the IMF doesn't simply support our reform program. Every IMF tranche is a clear signal for investors: there are changes and they may invest in Ukraine," the minister said.
Without the IMF, Ukraine will not be able to get US$1 billion in loan guarantees from the United States, EUR 1.2 billion in macro-finance assistance from the European Union and loans from European partners for gas purchases.
