09:53 16.02.2016

Agriculture minister says no IMF money amid absence of government

1 min read
Agriculture minister says no IMF money amid absence of government

If Arseniy Yatseniuk's government resigns, the next new International Monetary Fund tranche may arrive only after a new government presents its action plan, and the hryvnia may significantly weaken in between, Ukrainian Agriculture Minister Oleksiy Pavlenko has said.

"There could be different options – the forex rate may be UAH 40 or UAH 50 [per U.S. dollar] or even higher," Pavlenko said on ICTV on Monday evening, commenting a possible impact of the government's resignation on the national currency.

He explained that the Ukrainian economy would not survive without IMF funds, and "the IMF will not give money until it sees a new government, a new action plan."

He also cited the situation last year when the forex rate skyrocketed to UAH 40 per U.S. dollar.

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