The IMF’s demand: Ukraine will develop its domestic securities market to avoid “printing” of the hryvnia. The goal of a working group is to develop the domestic debt market with the participation of representatives from the National Bank and the Ministry of Finance. The group was created to implement a me... #IMFandUkraine #SecuritiesMarket #UkraineBond
The Government of Ukraine approved a memorandum with the IMF and its G7 creditors – loan guarantees and postponement of debt payments until 2027. The Cabinet of Ministers of Ukraine approved the government’s and the National Bank’s draft letter of intent to the IMF and the draft Memorandum on Economic and Financial Policy. Minister ... #IMFandUkraine #SerhiyMarchenko #UkraineDebtPayment
Ukraine and the IMF have agreed on a four-year, $15.6B program. As the IMF specified, the agreement still has to be approved by the Fund’s Board of Directors in the coming weeks. The program’s goal is to maintain fiscal, external, and financial stabili... #IMFandUkraine #IMFprogramm #ReformsinUkraine
Ukraine has fulfilled almost all the requirements of the IMF. Ukraine has already fulfilled four of the five structural checkpoints provided for in the IMF’s monitoring program, which the state undertook to fulfill by the end of January. National Bank Chairman A... #AndriyPishnyi #IMFandUkraine #IMFrequirements
The G7 will meet Ukraine’s urgent financial needs. The G7 countries are intensifying their efforts to meet Ukraine’s urgent financial needs, according to a statement based on the consultations among the leaders of the G7 countries. “We will ask ... #G7 #G7supportUkraine #IMFandUkraine
The IMF and Ukrainian authorities have agreed on $20B in funding for budgetary needs. Ukraine reached a preliminary agreement with the International Monetary Fund that may open a path to a financial lifeline as the war-battered nation seeks as much as $20B to shore up its reserves and... #GavinGray #IMFaidforUkraine #IMFandUkraine
Ukraine’s GDP will grow by 1% next year. The International Monetary Fund has updated its macro forecast for Ukraine based on the fund’s virtual mission results. “Economic activity is expected to stabilize in 2023, with economic growth ... #GavinGray #IMFandUkraine #UkraineGDP #ukraineGDPforcast
Ukraine might receive no IMF support this year. According to analysts, Ukraine may run out of money from the International Monetary Fund this year due to the operating principles of the organization’s work, writes Bloomberg. The prospect of r... #IMFandUkraine #IMFsupport
Ukraine is considering its options to restructure debt. Ukrainian officials are exploring the possibility of debt restructuring as the war-ravaged country’s funding options are at risk of depletion, according to three people familiar with the discussions,... #imf #IMFandUkraine #ukrainedebt #UkraineRestructuringDebt
The IMF might establish a Fund for Support of Ukraine. The Deputy Head of the National Bank of Ukraine, Serhiy Mykolaychuk, said that a special fund to support Ukraine might be created through the International Monetary Fund, reported Forbes. “The fund wi... #FundtorestoreUkraine #IMFandUkraine #IMFspecialFundForUkraine
Ukraine’s new program of cooperation with the IMF. After completing a joint stand-by program with the International Monetary Fund (IMF) in the summer of 2020, Ukraine intends to continue the partnership under a new program, said The Prime Minister, De... #imf #IMFandUkraine #IMFprogramforUkraine
The IMF has agreed to allocate $700 million to Ukraine. Following the first revision of the stand-by program (SBA), the International Monetary Fund agreed to provide Ukraine with a loan tranche of about $700 mln, according to the fund’s press service... #IMFaidforUkraine #IMFandUkraine #сьогоднівукраїні imf
The International Monetary Fund (IMF) and Ukraine agreed on a tranche of funding of $ 700 million, reported imf.org. The IMF and the Government of Ukraine have signed a preliminary agreement to extend the lending program and provide Ukraine with a tranche of about $700 million. The IMF team and Ukr... #imf #IMFandUkraine #IMFinUkraine
Ukraine’s international reserves exceed $30 billion, adequate under the IMF criterion. According to Deputy Governor of the National Bank of Ukraine Serhiy Nikolaychuk, After the payment of more than $1.3 billion on Eurobonds on September 1, internationa... #IMFandUkraine #NBUukraine #UkraineFinancials #UkraineReserves
IMF Fund mission is expected shortly, and Ukraine intends to request the next tranche. Oleh Ustenko, adviser to the president on economic issues, has told Dom TV that in fulfillment of its obligations, Ukraine is strengthening the independence of the National Bank and intensifying effor... #IMFandUkraine #IMFinUkraine #IMFmoney
“By stalling economic reforms and refusing to fight corruption, the government has replaced cheap IMF loans at rates of about 1% with commercial loans at rates of 6.875% or higher, ” continues Verlanov, who was fired by Zelenskiy in April 2020. “The developments illustrate the government’s shortsighted debt management approach that has become the hallmark of Ukraine’s incoherent... #imf #IMFandUkraine
President Volodymyr Zelenskiy welcomed the news, saying: “This will be a good gift for our country on the 30th anniversary of Independence. These funds will help overcome the consequences of the coronavirus crisis and stimulate our economy.” He said IMF Man... #IMFandUkraine #IMFmoneyforUkraine #NewTranchfromIMF
In Washington, the IMF Board of Governors approved Monday night a general allocation of Special Drawing Rights equivalent to $650 billion to boost global liquidity . According to country quotas, Ukraine gets 4%, or $2.7 billion. “This is a historic decision – the largest SDR allocation in the history of the IMF and a shot in the arm for the global economy at a t... #imf #IMFaidforUkraine #IMFandUkraine
In Kyiv, three presidential advisors told reporters yesterday that they are optimistic about the IMF’s planned mission here next month. Oleh Ustenko, economic adviser to Zelenskiy, told Interfax-Ukraine: “Literally in September, I expect that we will receive a new tranche.” #IMFandUkraine #IMFmoney #NewIMFtranche
Presidential spokesman Serhiy Nykyforov noted the recent passage by the Rada of several free market reforms demanded by the IMF . In a briefing to reporters, he said: “The mission will remain satisfied, and the President’s Office has no doubts about this.” A favorable report by the IMF mission could unlock $700 million tranche... #IMFaidforUkraine #IMFandUkraine #IMFdeal #сьогоднівукраїні imf
“For Ukraine’s image in the West, this is not good news, ” he concludes. “However, for Ukraine’s public finances, this is not a big problem, as Ukraine counts on receiving about $2.9 billion from the IMF in the form of SDR allocation in the coming months.”... #IMFaidforUkraine #IMFandUkraine #UkraineFinances #UkraineImage
Arrival of a $700 million IMF tranche has been put off to the fall. After a telephone call with President Zelenskiy last night, IMF Managing Director Kristalina Georgieva tweeted praise for “Ukraine’s successful economic progress under the IMF program.” But she ... #IMFaidforUkraine #IMFandUkraine #IMFdeal
The IMF’s 18-month, $5 billion Stand-By Arrangement with Ukraine expires in December . So far, Ukraine has received only one tranche, for $2.1 billion. Separately, Ukraine is to receive from the IMF in coming weeks $2.8 billion, part of a worldwide distribution to member countries. In... #IMFagreementwithUkraine #IMFandUkraine #IMFmoney2021
Vahram Stepanyan, a veteran of reform programs in Hungary and Romania, is the new IMF resident representative in Ukraine. A native of Armenia, Stepanyan most recently served with the IMF in the United Arab Emirates. Goesta Ljungman, the IMF representative here for the last four years, is returning to Washington in a rout... #imf #IMFandUkraine #сьогоднівукраїні imf
Timothy Ash writes from London: “If…these laws are now IMF compliant, then there is a hope still of getting the first review under the Stand-By Arrangement signed off before September and all the 2022 budget discussions.” #IMFandUkraine #IMFdeal
Alfa-Bank Ukraine wrote: “An easy $2.7 billion from the IMF might arrive in 2021…This allocation might be very helpful as Ukraine faces its next FX debt payment peak in September ($3.1 billion). However, such ‘windfall cash’ ... #imf #IMFandUkraine
Separately, Shevchenko told Interfax-Ukraine last week that Ukraine should receive two tranches from last June’s $5 billion IMF Stand-by Agreement “given the longer course of negotiations.” Ukraine has been in on-again, off-again talks with the IMF since last fall. He said that he hoped that the Rada will pass legislation in coming weeks so that... #imf #IMFandUkraine #IMFmoney
Facing $6 billion in external borrowing that are needed this year, Ukraine is “already uncomfortable” without the $3 billion in remaining IMF tranches , Finance Minister Serhiy Marchenko said in a lengthy interview with LIGA. “We have no opportunity to receive income from another source,” he says. “The IMF program is our baseline scenario.” He said ... #imf #IMFandUkraine #IMFmoney
Separately, Marchenko hopes to reach an IMF staff level agreement soon, he told reporters at a press conference on Tuesday. Anti-corruption policy and judicial reform remained outstanding issues in the talks, he said. #Anticorruptionpolicy #imf #IMFandUkraine #Marchenko
