REUTERS
Ukraine's authorities and the IMF staff earlier reached an agreement on policies to underpin a new three-year US$5.5 billion Extended Fund Facility.
Ukrainian Minister of Economic Development, Trade and Agriculture Tymofiy Mylovanov says the Cabinet of Ministers expects the International Monetary Fund (IMF) Executive Board will approve a new three-year Extended Fund Facility (EFF) for Ukraine soon.
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"I can't comment on the details since the negotiations are being held behind closed doors. But we expect the program that was adopted via a staff-level agreement will be approved by the IMF Executive Board soon. [Ukrainian] President Volodymyr Zelensky met with IMF Managing Director Kristalina Georgieva [at the World Economic Forum] in Davos, which was the most successful and interesting meeting there, in our opinion," he said on a Ukrainian TV channel on January 27, commenting on the outcome of the last week's event.
As UNIAN reported earlier, Ukraine's authorities and the IMF staff had reached an agreement on policies to underpin a new three-year US$5.5 billion Extended Fund Facility, while the Fund's Executive Board is yet to approve the program.
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 enacting the new program, the chief banker mentioned the need to adopt laws preventing courts from returning insolvent banks to former owners, creating single legal entities for tax and customs services, and launching farmland trade.
Ukrainian Finance Minister Oksana Markarova, in turn, said Ukraine would be able to phase out cooperation with the IMF after the implementation of the new three-year Extended Fund Facility.