14:47 18.01.2018

Ukrainian finance minister hopes conditions for IMF's tranche to be met in Q1 2018

2 min read
Ukrainian finance minister hopes conditions for IMF's tranche to be met in Q1 2018

Ukraine needs to retain the financing of the International Monetary Fund (IMF) and other international financial institutions (IFIs) and could implement the conditions for receiving the new tranche from the IMF in the first quarter of 2018, Ukrainian Finance Minister Oleksandr Danyliuk has said.

"My task as finance minister is that successful work with the IMF continues. When we are in the IMF program we can receive additional financing from the World Bank and the EU. This money is important now," he said on Channel 5 TV on Wednesday.

"I hope that in the first quarter we will have the law on the anti-corruption court," he said.

"The completion of the energy reform is on the agenda: the complete changing of the model of the gas market - the transition from a monopoly to a more competitive market. This will help attract investment. High competition means lower prices," Danyliuk said.

He said that the delay in the resumption of financing from the IMF is one of the factors of the hryvnia weakening, although he called the existing amount of reserves of more than $18 billion a comfortable level.

At the same time, the finance ministry said that in the absence of IMF loans Ukraine will have to look for alternative sources of financing, and "it is not that simple."

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