REUTERS
The IMF marked Ukraine’s progress in a number of areas, but it still expects more efforts in combating corruption, that's according to Fund's Permanent Representative in Ukraine Jerome Vacher who spoke at the 12th investment conference hosted by Dragon Capital Company in Kyiv on Thursday, according to 112 TV channel's website.
“I’ve been representing IMF in Ukraine since May 2013. Today’s National Bank of Ukraine is very much different from the one back then, in 2013. Significant changes for the better had positive impact on our cooperation. We’re witnessing progress in macroeconomic, monetary, and fiscal policy in Ukraine. Progress in energy sector is another great achievement”, Vacher said, reads the report.
Meanwhile, the IMF official emphasized the Fund expects the country to put more effort into tackling corruption: “There’s a serious lack in this area. One can’t really say that nothing is being done, but the current efforts are not enough.”
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As UNIAN reported earlier, the second review of the EFF program was conducted in two stages. The IMF mission was operating in Kyiv in September, and on October 2 the talks were suspended due to the local elections in the country, as well as ongoing discussions of the tax reform and the draft state budget for 2016. In November, negotiations between Ukraine and the IMF resumed.
At present, Ukraine and the IMF are agreeing a report on the progress of reform implementation and the memorandum on the second program review, while identifying further actions. It is noted that the two sides have been discussing a wide range of issues within the framework of the second program review, which includes various aspects of monetary, banking and anti-corruption policies, the pension reform and the privatization process.
The disbursement of the third tranche is vital for Ukraine as it will help unlock further financial assistance from Ukraine's international partners, including $1 billion guarantee from the U.S. government, and loan funds from the EU and World Bank.
Read alsoUkraine, IMF not in talks on new cooperation program – JareskoThe approval process of the Memorandum has been delayed due to recent reports about possible resignation of the government.
As reported, the IMF on March 11 2015, approved a four-year EFF worth $17.5 billion for Ukraine. The first tranche worth $5 billion under this program arrived in Ukraine on March 13, 2015. The second tranche worth $1.7 billion was transferred to Ukraine on August 4, 2015.