REUTERS
The IMF mission will work with the Ukrainian authorities for two weeks to review the current program and ensure criminal liability for illegal enrichment.
A new mission from the International Monetary Fund (IMF), Ukraine's key lender, arrived in Kyiv and started work on May 21.
"The mission arrived at 09:00 Kyiv time," a source in Ukraine's government told UNIAN.
Later, the IMF Resident Representative Office in Ukraine confirmed the information.
Read alsoIMF review mission to arrive in Kyiv next Tuesday – Ljungman
"IMF experts began their work in Ukraine," the report says.
Earlier, IMF Resident Representative in Ukraine Goesta Ljungman announced the mission's arrival on May 21.
The IMF mission will work with the Ukrainian authorities for two weeks to review the current program and ensure criminal liability for illegal enrichment, introduced within the previous program, but canceled by the Constitutional Court of Ukraine in February.
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.