Dates of IMF mission's visit to Ukraine to be known after number of issues resolved

Dates of the stay of an International Monetary Fund (IMF) mission in Ukraine will be known after a number of issues of concern to the Fund have been resolved.

This was stated by Governor of the National Bank of Ukraine (NBU) Kyrylo Shevchenko, in an interview for the Voice of America (VoA).

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He said he hoped that it would happen by the end of the year.

"In order for the dates to become known, it is necessary to achieve progress in all blocks of issues. If the ways of resolving issues are worked out, and we start to move along them from both sides, then I am an optimist in this matter – Ukraine has every chance to get the IMF mission by the end of this year," Shevchenko said.

The NBU chief stressed that three blocks of issues were being discussed with the IMF. The first concerns the decision of the Constitutional Court and anti-corruption activities in Ukraine. The second is the draft budget of Ukraine for 2021. And the third is the work of the National Bank itself.

"The greatest concern was once caused by the Constitutional Court's ruling. But Volodymyr Zelensky was predictable in his reaction to such challenges from the Constitutional Court. The clear messages provided by the President showed that Ukraine has no other way, and Ukraine will make every effort to further support the anti-corruption infrastructure," Shevchenko added.

Ukraine and IMF: Updates

• NBU Governor Kyrylo Shevchenko on November 8 left for an official working visit to Washington, D.C., to discuss the state and prospects of Ukraine's cooperation with international partners.
• On June 9, 2020, the IMF's Executive Board adopted an 18-month Stand-By Arrangement (SBA) for Ukraine with funding equivalent to SDR 3.6 billion (about US$5 billion) aimed at helping Ukraine overcome the consequences of the COVID-19 pandemic.
• On June 12, 2020, Ukraine received the first disbursement from the IMF loan under the new 18-month SBA between Ukraine and the Fund in the amount of US$2.1 billion.
• On October 22, 2020, NBU Governor Kyrylo Shevchenko said at a briefing that there was no uncertainty in Ukraine's relations with the International Monetary Fund.