REUTERS
The expert noted that cooperation will help boost confidence of international lenders in relation to Ukraine.
The agreement reached on a new program of cooperation with the IMF opens up opportunities for Ukraine to continue cooperation with its Western partners, says economist Borys Kushniruk.
Speaking to TV Channel 5, he noted that cooperation will help boost confidence of international lenders in relation to Ukraine.
"First of all, cooperation with the IMF gives confidence to both lenders and investors that Ukraine is cooperating with international financial institutions. It is not only about the IMF, but also the World Bank, and that Ukraine has certain confidence on their part. In addition, this allows ensuring stability of the national currency. Consequently, Ukraine may try to raise funds to finance the budget in the private market, that is, in the private borrowing market," Kushniruk explained.
Read alsoUkraine, IMF agree on new US$5.5 bln cooperation program
As UNIAN reported earlier, President of Ukraine Volodymyr Zelensky and Managing Director of the International Monetary Fund Kristalina Georgieva agreed on a new 3-year Staff-Level Agreement under the IMF’s Extended Fund Facility. This is stated in an official press release of the Fund.
The IMF notes that Ukraine’s economic success depends crucially on a number of steps, including on safeguarding the gains made in cleaning up the banking system.