IMF may increase loan for Ukraine

The managing Director of the IMF Kristalina Georgieva announced significant progress in negotiations on a new EFF program for Ukraine, and also called the conditions under which the previously agreed funding of $5.5 billion can be increased.

МВФ может увеличить кредит для Украины

About this Georgieva said in an official statement posted on the IMF website, reports UKRINFORM.

“Over the past weeks, there has been very good progress in negotiations with the Ukrainian authorities on a new agreement on the extended Fund (EFF),” — said the head of the IMF.

She called the two step, the implementation of which could facilitate the provision of Finance for Ukraine even in a larger size than announced earlier.

“The adoption of legislation to improve the regulatory framework in the banking sector, and land reform would move forward quickly and finalize the parameters of a new contract, with access to more resources than previously estimated,” — said Georgieva.

As reported, in early December last year, after a telephone conversation of Vladimir Zelensky and Kristalina Georgieva was reached a preliminary agreement on a new three-year program in the format of the extended Fund (EFF) amounting to $5.5 billion.

It was stressed that Ukraine must fulfill prerequisites. In particular, it was about strengthening the rule of law, fight against corruption, the development of a competitive environment, open markets, reducing the role of the oligarchs, the continuation of a prudent fiscal policy to ensure sustainable development in the medium term, as well as independence and financial stability of the NBU.