President Petro Poroshenko and managing Director of the International monetary Fund Christine Lagarde discussed the beginning of the implementation of the new program stand-by.
As noted, the President began a working visit to Davos to attend the annual meeting of the world economic forum’s meeting with Lagarde.
“We discussed the state of development of cooperation of Ukraine-the IMF and launch of the new stand-by programme and the prospects of Ukraine’s economic growth in 2019,” – said Poroshenko.
“Am grateful to Mrs Lagarde for a high estimation of reforms in Ukraine and confidence in the successful implementation of the program of cooperation for 2019,” he added.
The new program provides for the granting Ukraine financing for a total amount of 2.8 billion special drawing rights (about 3.9 billion dollars) for 14 months.
It will focus in particular on continuing fiscal consolidation and reducing the level of inflation, preserving exchange rate flexibility, and strengthening of the financial sector and structural reforms in tax administration, privatization and public administration.