IMF board to assess Ukraine's compliance with updated lending rules during second revision

19:04, 14.01.2016 1 min read

The Executive Board of the International Monetary Fund (IMF) will evaluate Ukraine's compliance with the updated rules of lending during the completion of the second revision of the EFF program with Ukraine, Director of the IMF Communications Department Gerry Rice has stated.

"We continue to encourage Ukraine and Russia in achieving a joint decision, which would be consistent with the objectives of the EFF program. The IMF board of directors will assess the intentions of both sides during the second revision. I have no date yet when a meeting of the board of directors will be held," he said at a traditional press briefing in Washington.

As reported, the IMF Executive Board on December 8 approved changes to the policy on non-toleration of arrears to official creditors, which allow the fund to provide funding to the state that has debts to official creditors.

The changes, in particular, apply to debts to sovereign creditors, which have not been settled within the framework of the Paris Club.