REUTERS
The IMF Executive Board earlier approved a new 14-month Stand-By Arrangement (SBA) for Ukraine in the amount of $3.9 billion.
International Monetary Fund (IMF) Resident Representative in Ukraine Goesta Ljungman says the mission of the Fund, Ukraine's key lender, will arrive in Kyiv to conduct the next review of the current cooperation program next week, on Tuesday, May 21.
The mission will arrive in Kyiv next week, on Tuesday, he said on May 16.
The IMF mission will work with the Ukrainian authorities for two weeks to review the current program and ensure that criminal liability for illegal enrichment, introduced within the previous program, but canceled by the Constitutional Court of Ukraine in February.
Read alsoEBRD worsens Ukraine economy outlook
UNIAN memo. The IMF Executive Board approved a new 14-month Stand-By Arrangement (SBA) for Ukraine in the amount of $3.9 billion. Ukraine received the first disbursement under the new program in the amount of $1.4 billion on December 21, 2018. Another two disbursements worth $1.3 billion each are expected after the reviews of the implementation of the program's provisions in May and in November 2019.
By the arrival of a new IMF mission in May, Ukraine's parliament should pass the so-called split law (splitting functions to regulate financial services), while the government should reorganize the State Fiscal Service into the tax service and the customs service. Also, the subject of Ukraine-IMF talks will be an increase in natural gas prices for households by 15%.
According to the memorandum with the IMF, Ukraine has pledged to raise prices as of May 1, but in view of a reduction in gas prices on the European market, Ukraine's Cabinet of Ministers decided to lower prices.
In addition, experts predict that cancellation by the Constitutional Court of Ukraine of responsibility for illegal enrichment and a number of court rulings to revoke PrivatBank's nationalization may affect further cooperation with the IMF.