11:06 22.05.2019

IMF mission continues working in Ukraine

2 min read
IMF mission continues working in Ukraine

The representative office of the International Monetary Fund (IMF) on Wednesday refuted some media reports on the alleged early drawdown of the mission that earlier started working in Kyiv.

The IMF representative office said that IMF experts continue their meetings with authorities, the office told Interfax-Ukraine.

As reported, the IMF mission started working in Kyiv on May 21. The mission is to assess the implementation of the current Stand-By Arrangement in Ukraine and consultations on Article IV of the IMF Agreement.

Earlier, IMF Resident Representative in Ukraine Goesta Ljungman said that the IMF mission planned to work in Ukraine for two weeks. Among the main issues of concern, he noted the adoption of the new wording of the law on liability for illegal enrichment after the abolition of the previous one by the Constitutional Court in February of this year.

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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