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IMF mission to visit Ukraine to review reform progress

Xinhua, November 12, 2015 Adjust font size:

A mission of the International Monetary Fund (IMF) will arrive in Kiev on Thursday to evaluate Ukraine's progress in implementing economic reforms under the 17.5-billion-U.S.-dollar bailout program, local authorities said Wednesday.

The National Bank of Ukraine (NBU) said that the IMF team will, during its nine-day stay in Kiev, discussed with the Ukrainian government the country's budget plan for 2016 and examine achievements in its anti-corruption campaign.

"The IMF mission will come because we have already drafted the parameters of the state budget for 2016 and moved forward towards resolution of the issue with the anti-corruption prosecutors," NBU's Governor Valeria Gontareva told a press briefing.

Gontareva said that she was "optimistic" about the upcoming visit, which may pave the way for the next loan tranche worth 1.7 billion dollars to Kiev.

Since mid-March, Ukraine has received a total of 6.7 billion dollars as two disbursements from the global lender's bailout program.

To allocate the next portion of aid, the IMF requires Kiev to narrow the gap in its 2016 budget to 3.7 percent of the gross domestic product and implement a series of reforms in economy and the fiscal sector. Endit