Economy 2022-01-15T07:17:42+02:00
Ukrainian news
Danyliuk: 6th Program Of Cooperation With IMF Should Be Last One

Danyliuk: 6th Program Of Cooperation With IMF Should Be Last One

IMF, tranche, cooperation, Oleksandr Danyliuk

Finance Minister of Ukraine Oleksandr Danyliuk has expressed hope that the sixth program of cooperation with the International Monetary Fund will be implemented in full and will be the last one.

He wrote this on his Facebook page, Ukrainian News Agency reports.

"Ukraine has started several programs of the IMF. There were five of them in 1994-2013. None of them was implemented in full. Each time we received several tranches and everything stopped later because the authorities did not want or were not able to meet their commitments. When we started the sixth IMF program in 2015 the country was in extremely hard situation: the war, the economic instability, high inflation, rapid fall of the DGP, the hryvnia devaluation," he wrote.

Ukraine needed some help from the IMF badly and the country got it.

The macroeconomic situation has become stable and the economic growth renewed in 2016, according to the minister.

"I want our sixth program with the IMF to be implemented in full and be the last one. With its potential Ukraine can and must become self-sustainable economically and financially," he wrote.

As Ukrainian News Agency earlier reported, the IMF approved an Extended Fund Facility (EFF) loan program worth a total of USD 17.5 billion over a period of four years for Ukraine on March 11, 2015.

Ukraine received the first tranche of USD 5 billion in March 2015, the second tranche of USD 1.7 billion in August 2015, the third tranche of USD 1 billion in September 2016, the fourth tranche of USD 1 billion in April 2017.

Ukraine expects to receive two more tranches of the EFF loan the end of 2017.

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