REUTERS
Ukraine and the IMF have reached an agreement on the new program at the staff level only.
Governor of the National Bank of Ukraine (NBU) Yakiv Smolii says the regulator is awaiting the approval by the Board of the International Monetary Fund (IMF) of a new three-year US$5.5 billion Extended Fund Facility for Ukraine in the first quarter of 2020 (Q1).
The official recalled that Ukraine and the IMF had reached an agreement on the new program at the staff level only.
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"This year's schedule of IMF Board's meetings does not include the one to approve the new program. But, according to the schedule, it may be held in the first quarter next year," Smolii added.
Speaking about preconditions for concluding an agreement on the new program, the chief banker recalled the need to adopt laws on the impossibility of returning an insolvent bank to former owners by a court decision, the creation of single legal entities of the tax and customs services, and trade in farmland.
As UNIAN reported earlier, Ukraine and the IMF had agreed on a new three-year US$5.5 billion Extended Fund Facility for Ukraine. The IMF Board is yet to approve the deal. Ukrainian Finance Minister Oksana Markarova said that the agreement with the IMF would let Ukraine get EUR 500 million in macro-financial assistance from the European Union on favorable terms in the coming months.