12:55 26.11.2018

No formal legal bans for cooperation of IMF with countries where martial law introduced exist

1 min read
No formal legal bans for cooperation of IMF with countries where martial law introduced exist

 The Resident Representative Office of the International Monetary Fund (IMF) in Ukraine has reserved their position in comments to Interfax-Ukraine on Monday over the possible introduction of martial law in the country until the official decree is published.

However, the office reminded the position about the absence of formal legal bans for continuation of cooperation announced by the resident representative of the IMF in Ukraine.

As for the possible introduction of martial law, the IMF does not have formal legal bans hindering the continuation of cooperation in these conditions, Jerome Vacher, who was Resident Representative of the IMF in Ukraine, said at the end of October 2014.

He then said that the IMF cooperated with some countries, on the territory of which military conflicts were seen.

As reported, on October 19, 2018, the International Monetary Fund and Ukraine had reached an agreement on a new 14-month Stand-By Arrangement (SBA) that is to replace the IMF Extended Fund Facility (EFF) that was approved in March 2015 and is coming to an end in March 2019. Ukraine expects that the Executive Board of the IMF will approve the decision in December 2018.

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