12:40 22.01.2020

PM: We expect to get three-year program from IMF soon

2 min read
PM: We expect to get three-year program from IMF soon

Ukrainian Prime Minister Oleksiy Honcharuk has said that Ukraine soon expects that the International Monetary Fund (IMF) approves the three-year program.

"In the near future we expect to get a long-term program from the IMF and we are already reconciling the key conditions," he said in an interview with the Report Company in cooperation with Newsweek.

"I'm not sure I can divulge details of the program before it is announced, but my ideas of the contents is that it might contain relief of administrative pressure on the energy markets, hence we can expect a continued liberalization in this field," Honcharuk said.

The prime minister said that macroeconomic stability can be provided by the national bank as an independent financial regulator and supporting the independence of this institution could be an important part of the IMF program.

"There are also essential elements of the banking sector that can be reconsidered. One of the peculiarities of our sector is that there are too many state-run banks, and good corporate governance is a big issue at these banks. We have to introduce good corporate governance to stop political figures from interfering with the operations of the financial sector through these large state banks," he said.

He also said that the illegal enrichment is the important issue.

"The law re-criminalizing illicit enrichment has just been adopted, and the National Agency for Corruption Prevention is being relaunched. Another driver of economic reform is land reform, privatization, and the PPP instruments. We might find some points of growth there that may be reflected in the new program," he said.

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