IMF program during the war: what Ukraine can count on

IMF program during the war: what Ukraine can count on

The Ministry of Finance expects to receive from the International Monetary Fund (IMF) under the new program a lot more than Ukraine has to pay to the Fund for debts.

 

About this in the interview to the media said Minister of Finance Serhiy Marchenko.

 

"I do not want to voice the sums, because it is incorrect. What we want is, of course, very good. But more important is what they can give us. This is the question of compromise, agreements and presence of the program in general, "- he said. .

 

According to him, there is no understanding what kind of program this will be, so it is difficult to say what will be the terms. It is not excluded that it could be a program without conditions.

 

"The main thing for us is to be included in the program, because it is not just about money. It is also about a signal to the market and other donor countries that Ukraine is a reliable partner", - added Marchenko.

 

He also mentioned the idea of transferring to Ukraine the quota of special rights of restrictions distributed last year by the IMF among the countries to fight the economic consequences of the pandemic. However, due to certain technical difficulties, according to the minister, there is still no realistic way forward in terms of implementation.

 

Earlier, the head of the National Bank Kyrylo Shevchenko said that he expects the agreement with the IMF for 15-20 billion dollars, which is expected to be received in February.

 

Meanwhile, President Volodymyr Zelensky said that even the program of USD 5 billion will help convince foreign creditors that the macroeconomic situation in the country is under control.





The Ministry of Finance expects to receive from the International Monetary Fund (IMF) under the new program a lot more than Ukraine has to pay to the Fund for debts.

 

About this in the interview to the media said Minister of Finance Serhiy Marchenko.

 

"I do not want to voice the sums, because it is incorrect. What we want is, of course, very good. But more important is what they can give us. This is the question of compromise, agreements and presence of the program in general, "- he said. .

 

According to him, there is no understanding what kind of program this will be, so it is difficult to say what will be the terms. It is not excluded that it could be a program without conditions.

 

"The main thing for us is to be included in the program, because it is not just about money. It is also about a signal to the market and other donor countries that Ukraine is a reliable partner", - added Marchenko.

 

He also mentioned the idea of transferring to Ukraine the quota of special rights of restrictions distributed last year by the IMF among the countries to fight the economic consequences of the pandemic. However, due to certain technical difficulties, according to the minister, there is still no realistic way forward in terms of implementation.

 

Earlier, the head of the National Bank Kyrylo Shevchenko said that he expects the agreement with the IMF for 15-20 billion dollars, which is expected to be received in February.

 

Meanwhile, President Volodymyr Zelensky said that even the program of USD 5 billion will help convince foreign creditors that the macroeconomic situation in the country is under control.