Ukraine to maintain macrofinancial stability without new tranche from IMF – Zelensky's advisor
Ukraine in the short-term outlook will be able to maintain macrofinancial stability without a new tranche from the International Monetary Fund (IMF), although in the long-term outlook the country needs to continue cooperation with the IMF, Executive Director of Blazer International Foundation and Volodymyr Zelensky's advisor for macroeconomic policy Oleh Ustenko has said.
"To cover payments on loan bonds, we have reserves of the Single Treasury's account and a "safety cushion" in the form of more than $20 billion of forex reserves. Ukraine cannot now enter the foreign markets for borrowing capital. They are expensive for us. You will have to pay about 10% per annum," he said in an interview with Interfax-Ukraine.
At the same time, Ustenko said that the lack of cooperation with the IMF will not allow raising funds from the European Union and the World Bank.
"However, as soon as the country enters the stage of the negotiation process on the opening of a new program, this will already be a positive signal and a window of opportunity may appear again on foreign markets," Ustenko said.