Date: 8 months ago   Category: Economy

The National Bank of Ukraine has announced achievement of progress in negotiations with the IMF — Rambler News Service


The National Bank of Ukraine (NBU) believes that in negotiations with the International Monetary Fund (IMF) which were completed on September 19 a certain progress has been made. It the deputy head of the NBU Oleg Chury has said in an interview to the Ekonomicheskaya Pravda edition. "The mission worked in Ukraine several weeks. Negotiations continue. We consider that in negotiations will make a certain progress, and we hope for successful result … Concerning National Bank at us full mutual understanding. Progress is also on questions which didn't concern activity of National Bank" — Chury has told. Chury has noted that the existing program of cooperation with the IMF comes to an end in 2019 which is difficult year for the country because of considerable currency payments on a public debt and because of holding presidential and parliamentary elections. "We considered that support from the international creditors is necessary for maintenance of macroeconomic and financial stability. Support from the IMF is very positive signal for all creditors. If we have a new program, it will give us the chance to be painless the pre-election and elective period and not to allow negative impact on macrostability which we on have" — he has told. According to Chury to pass the pre-election and elective period without prejudice to macrostability, reserves of the NBU have to reach $20,7 billion taking into account a tranche of the IMF and receiving financing from World bank and European Commission. According to him, Ukraine can receive a new tranche from the IMF and other creditors in 2018. "If we consider the scenario when all of us pay and we attract nothing, then, certainly, at us reserves will decrease. But I see that at positive development of the situation we can quite receive financing from the IMF and other official creditors in 2018" — Chury has added. Earlier "The economic truth" with reference to sources reported that the IMF has laid down to Kiev four conditions for receiving the next credit, among them — carrying out anti-corruption reform, reorganization of the Public fiscal service, adoption of the balanced federal budget and advance in price on gas for 23% till October 15. In March, 2015 the IMF has approved the four-year program of crediting of economy of Ukraine for $17,5 billion. Within this program Kiev has already received from fund four credit tranches for the total amount of $8,7 billion. Earlier in Kiev said that in 2018 Ukraine expects to receive from the IMF the next tranche of $2 billion. However at the beginning of February the fund called conditions for delivery of a tranche according to which Kiev has to, including adopt the law on anti-corruption court and considerably raise gas prices, having made them market. On June 26 Poroshenko has signed the law on start in Ukraine of the Supreme anti-corruption court. Before it he has signed the law "About the Supreme Anti-corruption Court" which defined his location, territorial jurisdiction and the status.

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