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26 26.35
28.8 29.4
Economy 2019-03-15T05:02:51+02:00
Ukrainian news
IMF Representative: Ukraine Loses 2% Of GDP Because Of Corruption

IMF Representative: Ukraine Loses 2% Of GDP Because Of Corruption

IMF Resident Representative in Ukraine Gosta Ljungman says Ukraine loses 2% of GDP because of corruption.

He gave the assessment during his speech at the 8th Ukrainian Investment Forum on Friday, Ukrainian News Agency reports.

"Corruption costs Ukraine 2% of economic growth. Therefore, fighting it is the question of economic prosperity," he said.

He says creation of the anticorruption court should be the next important step. He notes that creation of the anticorruption court is a condition for the next tranche of the International Monetary Fund to Ukraine.

As Ukrainian News Agency earlier reported, the National Bank of Ukraine does not expect the IMF to allocate another tranche in 2017. The NBU worsened its outlook for the international reserves to USD 18.6 billion as at the yearend.

Finance Minister of Ukraine Oleksandr Danyliuk does not rule out provision of another tranche by the International Monetary Fund (IMF) before the end of 2017.

On September 12-13, First Deputy Managing Director of the International Monetary Fund David Lipton had negotiations with President Petro Poroshenko, Prime Minister of Ukraine Volodymyr Groysman, Ministry of Finance leadership and other top officials in Kyiv.

After his visit he urged Ukraine to implement requirements of the cooperation program to obtain another tranche from the International Monetary Fund.

It was expected that the IMF mission will arrive on September 19, but the IMF does not specify the timeframe yet.

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