IMF undecided on date of Board meeting of Ukraine – spokesman
The International Monetary Fund has not yet decided on the date of the Board of Directors meeting on Ukraine and does not rule out that the discussions of Ukraine’s reform program will be postponed until the beginning of 2017, head of the IMF Communication Department Gerry Rice told a news briefing in Washington Thursday, Dec. 8.
The Board of Directors of Ukraine’s key creditor, the IMF, has not yet determined the date of its meeting on Ukraine. The Fund does not rule out that the discussion of the reform program and, as a consequence, a decision on the allocation of the fourth tranche in the amount of $1.3 billion, can be held in early 2017.
"There was a mission in November to Kyiv. The mission had very constructive discussions with the authorities on the policies needed to complete the third review under that EFF arrangement," said Rice.
"Good progress has been made, the authorities need some more time to implement policies to ensure medium-term fiscal sustainability, including the adoption of the 2017 budget consistent with program targets, measures to safeguard financial stability and tackle corruption," he said.
"Discussions on this policy will continue in the period ahead," he added.
No IMF tranche for Ukraine by year-end: NBU expects money in early 2017However, the IMF spokesman said that "we don’t have the date" of the meeting of the IMF Board on Ukraine.
At the same time responding to a clarifying question of journalists about whether it is possible to technically complete preparations for such a meeting of the Board on Ukraine before year-end, Rice said: "It’s probably unlikely."
As UNIAN reported earlier, Ukraine has resumed cooperation with the IMF under a four-year Extended Fund Facility (EFF) volume of $17.5 billion in September - after more than a year's break. Under this program, the country has received three loan tranches totaling $7.62 billion.
On November 18, a statement was issued on the results of the work of the latest mission in Ukraine, according to which the adoption of the government's state budget for 2017, consistent with the EFF targets, is one of the conditions for the successful completion of the third revision of the program. In addition, the Fund expects that financial stability is maintained in Ukraine and the measures aimed at combating corruption continue.
The Ministry of Finance of Ukraine hoped that the IMF would be able to discuss the reforms in Ukraine before the end of the year.