IMF denies emergency financial aid to Ukraine

The fund offers Ukraine to work on an existing cooperation program, explained the Ministry of Finance.

The IMF is not considering providing emergency funds to Ukraine. This was stated by the head of the Ministry of Finance, Sergei Marchenko, on Friday, November 27.

“We are talking about whether we apply for emergency funding. This is funding when the state really has a problem. We consider this issue in relation to the current situation. But I will tell you the response of our partners at the International Monetary Fund:” Dear Ukraine, you have a program, so please, we are ready to cooperate in this program. We are not currently considering emergency financing for you. “We asked a question, they clearly told us that we must work within the program and comply with the conditions,” Marchenko said.

At the same time, the minister in an interview with BBC News Ukraine suggested that it would be possible to agree a tranche with the IMF this year, but the funds would be received next year.

“We have these funds, of course, provided for in the budget. In addition, we have provided two tranches from the IMF ($ 700 million each – ed.). We have completed all the structural ‘beacons’ for the first display. Of course, now there are other structural “beacons” for which we are still in the process of being implemented. I cannot say categorically that there will be no funding. It may turn out that this solution is found somehow. But I don’t want to make any optimistic promises A more likely scenario, I would say, it is very likely that we can agree on a mission this year and these funds will be available next year, “added Marchenko.

Now the issue is not so much in the trench, but in the messages and the interaction, says the minister.

“If we can reverse the negative narrative of recent months, this will already be a great victory, I think. Because it opens the way for us to receive macro-financial assistance, to reestablish negotiations with the World Bank, etc.”, concluded Marchenko.

Earlier, the adviser to the head of the President’s Office, Tymofiy Mylovanov, said that this year Ukraine will not receive the tranche from the IMF. Later, the NBU mentioned the reason for the absence of the IMF tranche. Ukraine does not have time to comply with all the requirements of the Fund. Although initially the IMF promised two tranches for two laws, but later presented additional requirements.

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