NBU hopes for fruitful discussion with IMF

The National Bank of Ukraine (NBU) hopes for a fruitful discussion between the Ukrainian authorities and the International Monetary Fund (IMF)'s expert group working in Kyiv Feb 12-16.

"We hope for a fruitful discussion of the Ukrainian side with this international donor," the regulator's press service wrote on Facebook with reference to NBU Acting Governor Yakiv Smolii.

Smolii stressed that it was in Ukraine's interest to continue implementing the program with the IMF and fulfilling its obligations.

Read alsoTiming of IMF review mission to Ukraine not yet decided – deputy spokesmanAs UNIAN reported earlier, in March 2015, the IMF approved a four-year Extended Fund Facility (EFF) program worth $17.5 billion. Of the amount, Ukraine has received four tranches worth $8.7 billion. The program is expiring in March 2019.

On January 26, Ukrainian President Petro Poroshenko announced that the country had fulfilled 80% of the IMF requirements, stressing he expected to receive a fifth disbursement in April 2018.

The IMF says that to receive the fifth tranche, Ukraine needs to ensure that the pension reform is consistent with the objectives of cooperation, as well as to pass a law on privatization, bring gas tariffs in line with import parity, create an anti-corruption court, and adopt a budget for 2018 with a deficit of no more than 2.5% of GDP.

The National Bank of Ukraine expects that Ukraine will be able to borrow up to $2 billion in IMF funds in 2018.