14:46 12.05.2017

IFIs retain high level of confidence in Ukraine

2 min read
IFIs retain high level of confidence in Ukraine

The International Monetary Fund (IMF), the World Bank and other international financial institutions (IFIs) retain the high level of confidence in Ukraine, Governor of the National Bank of Ukraine (NBU) Valeriya Gontareva has said in an interview with Interfax-Ukraine.

"We and our reforms have huge support both in the IMF and the World Bank. We visited meetings jointly with Finance Minister Oleksandr Danyliuk, the driver of reforms in the government. This is not support of only the NBU," she said.

She said that the provision of the third and fourth tranches by the IMF under the Extended Fund Facility (EFF) without large breaks is also evidence of this confidence.

Asked about the attitude of new U.S. administration to Ukraine, Gontareva said that she did not feel any changes in her sphere.

"Maybe the only thing that could be felt is that not all levels of the power vertical were filled in. For example, earlier Jacob Lew was U.S Secretary of the Treasury, Nathan Sheets was Under Secretary of the Treasury, Ramin Tooloui was Treasury’s Assistant Secretary and then Treasury’s Financial Attaché in the CIS Clay Berry. I met Berry, while [U.S Secretary of the Treasury] Steven Mnuchin has not yet appointed new Under Secretary and other top officials," she said.

Gontareva said that the reviewed EFF program with serious requirements for getting the fifth tranche from the IMF, among which is the start of the pension and land reform, as well as the launch of the anti-corruption court, is not evidence that confidence to Ukrainian authorities is falling.

"They [all the requirements] were earlier. They were simply moved and it was encouragement for us for the good purification of the banking system," she said.

Gontareva said that all benchmarks were met in the financial sphere. Now the banking sector should simply growing and developing in a usual way.

"All the rest structural reforms have not yet been completed… What is the sense to move them? Where? I think that no one has doubts that they are to be done: neither the president nor the prime minister and finance minister," she said.

She believes that the situation with the launch of these reforms has really changed.

"I finally see real steps. This is good, as earlier there were promises. Now there are models and discussions," she said.

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