Reuters: Ukraine says it is sticking to commitments after IMF declines to say if program on track

09:00, 30 July 2020
Economy
236 0
REUTERS

Marchenko's comments, given via his press office, came after the IMF's representative to Ukraine declined to answer a question in an online discussion on whether the program remained on track, Reuters said.

Read alsoUkraine's new chief banker: IMF remains key partner

The shock resignation in July of Central Bank Governor Yakiv Smolii, who complained of political pressure, rattled investors and raised doubts over whether Ukraine could stick to the IMF deal, which is conditional on the central bank's independence.

"Ukraine continues to fulfil its commitments under the IMF memorandum," Marchenko said.

IMF Resident Representative in Ukraine Goesta Ljungman was asked whether the program was on track.

"I will refrain from answering," Ljungman said. "We have a program with Ukraine. In that program, Ukraine has made a number of commitments."

Smolii's successor Kyrylo Shevchenko has made reassuring noises to investors and the IMF about stability and keeping the central bank independent.

But he has stressed the need to make loans cheaper for struggling businesses and consumers, which President Volodymyr Zelensky's government and lawmakers have also called for.

If you see a spelling error on our site, select it and press Ctrl+Enter