Ukraine's central bank seeks to start talks on new IMF program in 2018

"Next year, it will be appropriate to start negotiations on the launch of a new program, since the current one expires in early 2019, and it is critically important for us to continue cooperation with the IMF in the future," he told a briefing on December 18.

 According to the NBU official, Ukraine should refinance over US$20 billion in foreign currency debts over 2018-2020, which will become an issue without active cooperation with international financial organizations.

The NBU said earlier that a long delay in another IMF disbursement under the Extended Fund Facility (EFF) threatened Ukraine's financial stability.

Read alsoIMF insists on Ukraine adjusting gas pricesUNIAN memo. The IMF in March 2015 approved a four-year Extended Fund Facility (EFF) loan program for Ukraine under which $17.5 billion will be disbursed. Ukraine has already received four disbursements from the Fund to the tune of $8.7 billion.

Deputy Spokesman for the IMF, William Murray, at a Washington briefing December 14 said that the Fund had not yet scheduled its mission’s arrival in Ukraine to review the cooperation program to subsequently decide on the allocation of another tranche since the Ukrainian side had not fulfilled all conditions to complete such revision.