10:13 11.02.2016

Poroshenko to Lagarde: Ukraine needs government to be reset without snap Rada election; road map for reforms will be drawn up

2 min read
Poroshenko to Lagarde: Ukraine needs government to be reset without snap Rada election; road map for reforms will be drawn up

Ukrainian President Petro Poroshenko has had a phone conversation with Managing Director of the International Monetary Fund (IMF) Christine Lagarde during which they discussed the current political situation in Ukraine and ways of improving it, the presidential press service reported.

"The president highlighted the necessity of refreshing the Cabinet of Ministers without early parliamentary elections that will only deepen the political crisis and deteriorate the conditions for reforms," the presidential press service said.

Poroshenko also pledged that Ukraine would continue reforms despite the crisis in relations between the government and the parliamentary coalition. He also announced his willingness to carry out decisive actions to ensure political and financial stability in the country.

"The parties agreed to elaborate a roadmap of the top-priority reforms that will give a boost to the Ukraine-IMF relations," the press service said.

They also agreed on the necessity of urgent adoption of all reform-oriented laws by the Ukrainian parliament.

Later, a statement on the results of the talks between Lagarde and Poroshenko was posted on the website of the IMF, in which the managing director said that their discussion was constructive.

"The president reassured me of his unwavering commitment to reforms, including improving governance and fighting corruption. We agreed on the principle of a roadmap of actions and priority measures to ensure prompt progress under the program, which will help keep Ukraine on a path toward robust and sustainable growth," the statement says.

As reported, on Wednesday Lagarde said that it was hard for the IMF to continue its cooperation with Ukraine under the Extended Fund Facility program without a substantial effort to fight corruption.

"I am concerned about Ukraine's slow progress in improving governance and fighting corruption, and reducing the influence of vested interests in policymaking. Without a substantial new effort to invigorate governance reforms and fight corruption, it is hard to see how the IMF-supported program can continue and be successful," she said in a statement published on Wednesday.

"Ukraine risks a return to the pattern of failed economic policies that has plagued its recent history. It is vital that Ukraine's leadership acts now to put the country back on a promising path of reform," Lagarde said.

Ukrainian Finance Minister Natalie Jaresko confirmed the plan to raise $8-10 billion in financial assistance from external creditors in 2016, including $5.8 billion from the International Monetary Fund (IMF).

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