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The negotiations will take place online (Photo: REUTERS / Yuri Gripas)
This was announced today by the IMF Resident Representative in Ukraine, Josta Lyngman.
«The IMF mission will begin the first review of the agreement in stand-by format from December 21 to 23. Given the circumstances of the COVID pandemic, the mission will conduct a remote discussion with the Ukrainian authorities on the latest current economic events, as well as the activities and reforms necessary to complete the first review. The mission plans to resume meetings after the end of the New Year holidays in January 2021, ”said Lyngman.
President Volodymyr Zelenskyy wrote on Twitter that he welcomed the IMF’s decision to launch the mission.
«Ukraine remains a reliable partner of the IMF, because our cooperation will benefit the Ukrainian people, ”said the president.
Let us remember that Ukraine had planned to receive two more tranches from the International Monetary Fund for 700 million dollars by the end of the year. The Finance Ministry anticipates that the funds will be received next year. Prime Minister Denis Shmygal said yesterday that the government expects to receive the next tranche in February-March 2021.
On December 9, the European Commission paid Ukraine 600 million euros as part of a macro-financial assistance program to overcome the economic consequences of the coronavirus pandemic. This gave Ukraine the opportunity to enter the foreign loan market: on December 11, the Ministry of Finance made an additional issue of Eurobonds in the amount of $ 600 million at 6.2%.
On December 15, the Ministry of Finance sold national government bonds for a record amount: 51.44 billion UAH (equivalent). Banks bought a significant part: their portfolio of government bonds increased by UAH 25.2 billion (by 5.19%). Non-residents have increased their OVDP portfolio by UAH 3.5 billion (4.3%).
