Date for IMF Executive Board meeting on Ukraine program yet to be set

Director of the Communications Department at the IMF Gerry Rice says the International Monetary Fund has not yet determined the date for the Executive Board's meeting to approve a new program for Ukraine since this depends on implementation by Ukraine of "prior actions".

"I do not have a date for you," the IMF press service quoted Gerry Rice as saying at a press briefing on December 12.

Asked, when the Executive Board will decide on a new program for Ukraine, Rice said "it will be contingent on the implementation of the prior actions and then there would be the program." "Contingent on those being completed would be taken forward to the Board," he said.

The IMF official recalled that last weekend Managing Director of the IMF Kristalina Georgieva had a telephone call with Ukrainian President Volodymyr Zelensky. She commended the president for impressive progress that he and the Ukrainian government have made in the past few months in advancing reforms and continuing with solid economic policies.

Read alsoUkraine's National Bank expects approval of new IMF program in Q1 2020

"During the call the Managing Director noted that IMF staff had reached an agreement with Ukrainian authorities on policies to underpin a new three year arrangement under the IMF's extended fund facility in the amount of about US$5.5 billion. I would want to stress this is a staff-level agreement, meaning it's subject to discussion and approval by our Executive Board. That's an important point," he said.

As UNIAN reported earlier, Governor of the National Bank of Ukraine (NBU) Yakiv Smolii said a decision on the new EFF might be approved in the first quarter of 2020.

Speaking about preconditions for concluding an agreement on the new program, the chief banker recalled the need to adopt laws preventing courts from returning insolvent banks to former owners, on creation of single legal entities for tax and customs services, and launch of farmland trade.