IMF, IFIs ready to further cooperate with Ukraine, Lagarde says

2018/1/25 15:04:13

Analyst: “…despite the recent resistance to demands from IFIs, we expect Ukraine to meet the conditions for the next loan tranche of USD 1 bln this year, including some deal involving natural gas price hikes and legislation to create the High Anti-Corruption Court in line with Western requirements.”


DAVOS, Jan 25, 2018 - The IMF and other IFIs are ready to support Ukraine in its reform efforts, IMF Managing Director Christine Lagarde told Ukrainian President Petro Poroshenko at their Jan. 24 meeting in Davos, Switzerland, Concorde Capital informed clients today. “Ukraine should take advantage of the current favorable external environment to accelerate reforms and transition to stronger growth,” she said in a press release.

 

Recall, the IMF and Ukraine agreed to a four-year, USD 17.5 bln Extended Fund Facility program in March 2015 with a quarterly review. So far, Ukraine has received four tranches of USD 8.7 bln total, though tranches had been planned for every quarter. The last tranche of USD 1.0 bln was released in April 2017 as the IMF has expressed dissatisfaction with Ukraine's reform efforts since.

 

Concorde analyst Evgeniya Akhtyrko added: “Recently, a number of Ukraine’s top officials have emphasized the importance of getting IMF support in order to maintain economic stability this year. And despite the recent resistance to demands from IFIs, we expect Ukraine to meet the conditions for the next loan tranche of USD 1 bln this year, including some deal involving natural gas price hikes and legislation to create the High Anti-Corruption Court in line with Western requirements. We don't share the NBU's optimism for receiving two loan tranches for USD 3-3.5 bln in 2018.

 

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For more information, link here: www.concorde.ua 

 

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