Agreement on cooperation between Ukraine and the IMF on a new lending program. This was discussed during a telephone conversation between Ukrainian President Vladimir Zelensky and managing Director of the International monetary Fund Kristalina Georgieva, the press service of the President and Cabinet.
“Our conversation with the managing Director of the IMF Kristalina Georgieva was very constructive. Glad we found full understanding and our turbo has received a high rating by the IMF. Grateful to Parliament, the government and our entire team for their tireless work for the sake of Ukraine,” said Zelensky.
The head of the IMF praised the economic achievements of the new government and progress in the implementation of reforms of the government.
The results of the meeting the sides noted that Ukraine and the international monetary Fund have reached agreement (Staff Level Agreement) on a new program of cooperation.
Managing Director of the International monetary Fund Kristalina Georgieva reaffirmed the agreement on cooperation with Ukraine on a new program in the amount of 4 billion SDR (Special Drawing Rights, Special drawing rights), or about $ 5.5 billion. USA, the press service of the Fund.
“Today I had a very constructive conversation with President Vladimir Zelensky. In the course of our conversation I thanked the President for the impressive progress achieved by him and his government over the past few months to advance reforms and continue sound economic policies. I assured the President of the readiness of the IMF to support the political program of the authorities for maintaining macroeconomic stability and raising the economy on a path of higher, sustainable and inclusive growth, including through new IMF-supported programme,” said Georgieva.
According to her, the agreement is subject to approval by IMF management and Executive Board approval, and its effectiveness will depend on Ukraine’s implementation of several prior actions.
Georgieva and Zelensky agreed that the economic success of Ukraine crucially depends on strengthening the rule of law, improving the integrity of the judicial system and diminish the role of personal interests in the economy. It is crucial to ensure the successes achieved in the course of purification of the banking system and to pay large costs to taxpayers from banking solutions.
“It is symbolic that the Staff-Level Agreement on new support programme with the IMF, we received it within 100 days of the government. Support such large systemic institutions – a token of confidence in the country”, – noted in turn the Prime Minister-the Minister Alexey Goncharuk.
Ukraine has been negotiating about the possibility of opening the Fund to the new 3-year eff EFF 5-6 billion. USA.