An International Monetary Fund (IMF) mission may arrive in Ukraine in August, presidential envoy to the Cabinet of Ministers Andriy Gerus said.
“The IMF has promised to come to Ukraine after the parliamentary elections. We hope it will be somewhere in August,” he told reporters after a government meeting on Friday.
At the same time, Gerus noted that there are no preliminary agreements on the conditions for granting Ukraine a new disbursement.
“We will start negotiations from a blank slate,” he said.
The IMF Executive Board, following a meeting on December 19, 2018, approved a new program of cooperation with Ukraine under the Stand-By Arrangement. The amount of the 14-month program is equivalent to SDR 2.8 billion, or about $3.9 billion. Some SDR 1 billion (about $1.4 billion) was provided immediately, while the remaining funds will be provided based on the results of the program reviews in 2019.
The IMF mission worked in Ukraine in May, but left without recommendations on the provision of the new tranche. Head of the mission Ron van Rooden said that the IMF mission is ready to return to Kyiv after the parliamentary elections and the formation of a new government. The IMF team found that fiscal and monetary policies remain on track.
