13:09 20.05.2019

Ukraine, IMF could agree on new program after parliamentary election – Zelensky's advisor

2 min read
Ukraine, IMF could agree on new program after parliamentary election – Zelensky's advisor

 Ukraine could agree with the International Monetary Fund (IMF) on a new program after parliamentary election, Executive Director of Blazer International Foundation and Volodymyr Zelensky's advisor for macroeconomic policy Oleh Ustenko has said.

"After the elections to the parliament, I think it is possible to open a new program. I suppose that in June-August the negotiation process will start on either opening a new program or revising the old program," he said in an interview with Interfax-Ukraine.

He also said that he admits the possibility of extending and revising the parameters of the current funding program.

"I have two scenarios for the development of events: the program will be closed and a new one will be launched, the second one: they will revise the parameters of the current one and extend it. However, the first one is the main one," Ustenko said.

As reported, the IMF Executive Board, following a meeting on December 19, 2018, approved a new program of cooperation with Ukraine under the Stand-By Arrangement. The amount of the 14-month program is equivalent to SDR 2.8 billion, or about $3.9 billion. Some SDR 1 billion (about $1.4 billion) was provided immediately, while the remaining funds will be provided based on the results of the program reviews in 2019.

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