A technical team from the International Monetary Fund (IMF) is planning to discuss the Ukrainian authorities' financial sector reform program in Kyiv from October 26 to November 2, the IMF Resident Representative Office in Ukraine has reported.
“As part of ongoing cooperation with the National Bank of Ukraine (NBU), an IMF technical team will visit Kyiv during October 26-November 2 to discuss the authorities’ financial sector reform program, including ongoing efforts to facilitate non-performing loans (NPL) resolution,” reads the statement, citing IMF Resident Representative in Ukraine Max Alier.
According to the statement, the team is also to discuss measures to create more favorable conditions for bank lending and outline reform priorities for 2013.
As reported, in late July 2010, the IMF decided to renew its loan partnership with Ukraine through a new SBA worth SDR 10 billion (about $15.6 billion). According to the NBU, the country succeeded in getting two tranches for a total of $3.4 billion.
The new program was frozen at the stage of the second review in the spring of 2011. For over a year, Ukraine has been trying to persuade the IMF to drop its objections to the government’s subsidizing natural gas tariffs for households until the completion of its gas talks with Russia. The current Stand-By Arrangement terminates in late 2012.
