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The cooperation program with the International Monetary Fund has not been implemented, in particular, due to the law on the High Council of Justice, said Ukraine’s President Volodymyr Zelenskyy.
The International Monetary Fund refused to provide a tranche to Ukraine for various reasons. In particular, the Ukrainian government must pass a series of laws. This was stated by the President of Ukraine, Volodymyr Zelenskyy, in an interview with journalists during the Ukraine 30. Infrastructure forum on February 22, reports the GORDON correspondent.
The president recalled that Ukraine is cooperating with the IMF under the program, most of which has already received money ($ 2.1 billion). According to Zelensky, two more sections are expected.
“Now they had to give the date on which the second tranche would be allocated – another $ 700 million. The program was not implemented due to various things. For example, in the legal area – the GSP law.” [Высшем совете правосудия]… His [МВФ] they fed for many years that there would be such a law. And now we have to do some things very quickly. And it is not easy. Both agrarian reform and banking law. You understand how much controversy there is in society about this. I don’t even talk about the fight against the deputies, ”he said.
In addition, there are several other economic measures that Ukraine must take.
“Such an agreement. The IMF tells us that it is still missing – one, two, three, four, five points. We agree or not. I think we have normal relations with the IMF. Within Ukraine, they do not help us with this issue. On the contrary, I know that many people, many lobbyists work separately with the Fund, telling what is happening in Ukraine, “added the president.
By establishing relations with international partners, Ukraine adheres to the idea of creating an independent state, Zelensky said.
“I understand some of the things that our Western partners want. I agree with some things. And not with others. I am the guarantor of the Constitution and I defend the independence of Ukraine.” […] We are building an independent Ukraine, independent of anyone in the future, “he explained.
Zelensky expressed confidence that Ukraine will receive the next tranche from the IMF by the end of 2021. If that does not happen, the country always has a “plan B and a plan C,” he said.
IMF Resident Representative in Ukraine Josta Lyngman February 13th He reported that the Foundation’s mission has completed its work, but a decision to review the program has not yet been made. “The discussion was productive, but more progress is needed in favor of completing the first review of the program. Discussions will continue,” he said.
The IMF mission worked in Ukraine from January 11 to February 12.
Ukraine cooperates with the IMF in a new reserve program. The Fund’s Executive Board approved it on June 9, 2020. It is supposed to allocate $ 5 billion in four tranches. On June 12, Ukraine received $ 2.1 billion from the first tranche. As Finance Minister Sergei Marchenko said, Kiev expected to receive two more tranches of $ 700 million by the end of 2020, but this did not happen.
From December 21 to 23, 2020, the mission of the International Monetary Fund began the first review of the agreement with Ukraine in stand-by format. It resumed operations after the winter break on January 11, 2021. Commenting on the schedule for the IMF’s next tranche, Jerry Rice, director of the press office for the Fund’s mission in Ukraine, said that first it is necessary to study economic development policy and reforms in the country.
In February, Marchenko said Ukraine and the IMF would sign a new version of the memorandum of cooperation.
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