New IMF program to be available to Ukraine no earlier than 2020 – NBU

Governor of the National Bank of Ukraine (NBU) Yakiv Smolii says the new IMF program will be available to Ukraine no earlier than 2020 due to the holding of presidential and parliamentary elections in the country in 2019.

"The IMF does not consider new programs during elections. Therefore, we should not wait for a new program next year. I think it could come in 2020 if there is such a need," he told journalists on May 31.

Read alsoUkraine may borrow funds on foreign market without IMF tranche – NBU governorAccording to the NBU head, the new program will duplicate the conditions that Ukraine has not fulfilled within the current program. "I believe that we need to return to reviewing the obligations that Ukraine has already taken," Smolii added.

At the same time, he says that the fulfillment of these conditions (implementation of reforms) is important not only for obtaining the IMF tranches.

"Without these reforms, [the country's] further economic growth is impossible," he added.