REUTERS
Georgieva has named conditions under which the previously stipulated funding of US$5.5 billion could be increased.
Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has announced significant progress in negotiations on a new Extended Fund Facility (EFF) program for Ukraine.
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"This last week, very good progress has been made in the discussions with the Ukrainian authorities on the new Extended Fund Facility (EFF) arrangement," she said in a statement posted on the IMF website on March 26.
Georgieva also mentioned conditions under which the previously stipulated funding of US$5.5 billion could be increased.
"Adoption of legislation to improve the bank resolution framework and on land reform would allow moving forward quickly with finalizing the parameters of the new arrangement, with larger access than previously envisaged," she added.
As UNIAN reported earlier, Ukraine's Cabinet of Ministers tabled bill No. 3260 in parliament to amend legislative acts to improve the regulation of banking activities.
Noteworthy, the National Bank of Ukraine (NBU) is now in talks with the IMF on two support programs. In particular, the negotiations on the new EFF program for Ukraine have been intensified. The results are expected to be announced in the coming weeks.