REUTERS
Reforms are being agreed that are needed to ensure mid-term fiscal sustainability and protect stability of the financial sector.
The International Monetary Fund will continue negotiations with Ukraine before proceeding to the first review of the existing Stand-By Arrangement.
The Fund is coordinating reforms that are necessary to ensure budget sustainability in the medium term and protect the stability of Ukraine's financial sector, said IMF representative Gerry Rice said at a Thursday briefing
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The reform program, the official said, remains incomplete regarding the agreements with the IMF, so Ukraine should continue to create conditions for post-crisis growth.
IMF in Ukraine
On June 9, 2020, the IMF's Executive Board adopted an 18-month Stand-By Arrangement (SBA) worth SDR 3.6 billion, or about US$5 billion, aimed at helping Ukraine overcome the consequences of the COVID-19 pandemic.
On June 12, Ukraine received the first IMF disbursement worth US$2.1 billion under the SBA.
In late November, the Finance Ministry reported on the successful completion of talks with the IMF on benchmarks of the draft budget for 2021, which was one of the major prerequisites for starting the SBA review.
On January 11, 2021, an IMF mission resumed work in Kyiv, they worked until February 12 but departed without issuing any decision on the SBA review.