The updated memorandum of cooperation with the International Monetary Fund (IMF) could be agreed in the coming weeks, Finance Minister of Ukraine Oleksandr Danyliuk has said.

"Now, after appointment of a new government, the second party [to the agreement] is present … to agree on a new memorandum within a matter of weeks," he said in a video interview posted on the ministry's website.

Danyliuk explained the break in cooperation with the IMF was due to temporary political instability in Ukraine, while the sides continue to adhere to a common vision on the necessary reforms.

"Now I'm returning to Kyiv and will continue working with the IMF," he said.

The IMF mission on May 10 started its work in Ukraine in the framework of the second review of the EFF program. The mission will run until May 18.