REUTERS
Ukrainian Finance Minister Oleksandr Danyliuk says Ukraine should learn how to manage without the International Monetary Fund despite the fact that the IMF plays an important role in the country's development, according to the online newspaper Dzerkalo Tyzhnia (Mirror Weekly).
"Now the IMF plays a very important role for the development of Ukraine, but I also understand that in future we should not count on the IMF. Such a position is weak," the minister told DT.ua in an interview.
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Yet, Danilyuk says the IMF program is an indicator for investors – both for direct investors and those who buy Ukrainian bonds.
"The IMF does not design programs for ten years – they support the country in a difficult period, so that it has an opportunity to handle the crisis, stabilize the economy at a time when private investors are not interested in the country and there is no one who would support it and when no tools except for the IMF work. But when we think about future, it is wrong to count on the IMF's support. Why then the government is needed?" he wondered.
Fitch Ratings earlier pointed out that further cooperation with the IMF and other official creditors is more important to support Ukraine's financial stability than return to the foreign debt market.