Discussions on new program for Ukraine ongoing – IMF

Ukraine's key creditor, the International Monetary Fund, continues its negotiations with the country regarding the next three-year Extended Fund Facility, says IMF communications chief Gerry Rice.

During a traditional briefing in Washington, Rice recalled that the latest staff mission completed its work in Ukraine in late September.

"The mission also started discussions on a new three-year financial arrangement with the Fund that could be supported by our Extended Fund Facility," Rice said.

The discussions on the said program "are ongoing", stressed the IMF representative.

Read alsoIMF mission to arrive in Kyiv in Nov to continue talks on new cooperation program: Ukrainian PM

Progress has been made in discussing fiscal and monetary policies, safeguarding independence of central bank and financial stability, efforts to minimize the fiscal cost of bank resolutions, strengthening the rule of law, and tackling corruption, Rice said, adding that "it takes time" to agree a package of policies that could be supported.

UNIAN memo. The IMF's latest staff mission worked in Kyiv on Sept 12-26. Following its visit, the IMF said the discussion of a new three-year extended fund facility for Ukraine will continue in the coming weeks.

After talks with the Ukrainian delegation to the United States, IMF European Department Director Poul Thomsen said the Fund's mission will visit Kyiv again in the coming weeks to discuss the new EFF.

The exact date has not been scheduled.

This week, The Wall Street Journal, citing its sources, reported that the IMF had postponed financial assistance to Ukraine amid concerns over the ability of President Volodymyr Zelensky to return billions of dollars from looted banks, while Prime Minister of Ukraine Oleksiy Honcharuk said that this did not correspond to reality.