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President Volodymyr Zelenskyy and the managing director of the International Monetary Fund, Kristalina Georgieva, had a telephone conversation. The parties discussed progress towards the adoption of Ukraine’s state budget for 2021, the preservation of the anti-corruption agenda and macroeconomic stability in the country.
This is stated in the message of the press service of the President of Ukraine.
The president said the Ukrainian and IMF teams “have great confidence and are working closely to accept the mission as quickly as possible.”
He noted that Ukraine was not failing to fulfill its obligations. Among other things, the reform of customs and tax services was approved, the Ministry of Finance and the National Bank are actively working to reduce the proportion of delinquent loans in the banking system.
“To date, all the structural milestones planned for the review of the IMF program have been met,” said the president.
Zelensky and Georgieva discussed the importance of adopting a balanced budget by 2021, as well as the risks of the recent Constitutional Court decision to abolish some of the provisions of the anti-corruption legislation.
Georgieva noted that the Prime Minister’s work with the Fund team enabled the parties to consolidate relations at a high level and make good progress.
He also highlighted the swift reaction and measures taken by the Ukrainian authorities after the KSU decision, adding that the Fund appreciates the cooperation of NBU head Kirill Shevchenko with the IMF team.
We will recall, previously, Finance Minister Sergey Marchenko said that Ukraine has already complied with 4 of the 10 structural beacons of the memorandum with the IMF. According to him, two more elements are in the completion stage, so Kiev expects the next tranche to arrive in 2020.
National Bank President Kirill Shevchenko, who is visiting Washington, said the IMF mission could reach Ukraine by the end of this year. However, there are no specific agreements yet.
It was also previously reported that Ukraine and the IMF are discussing three sets of issues. The first concerns the decision of the Constitutional Court and anti-corruption activities in Ukraine. The second is Ukraine’s draft budget for 2021. And the third is the work of the National Bank itself.
On November 2, President Volodymyr Zelenskyy said that the IMF mission in Ukraine is not due to the Constitutional Court’s decision to cancel the electronic declaration.
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