The ambassadors of the G7 countries at a meeting with Poroshenko, Yatsenyuk and Groisman demanded the execution of all obligations to the IMF — Tombinski

The ambassadors of the countries «Big seven» (G7), during the meeting with the leadership of Ukraine stressed the importance of the implementation of the official Kiev’s commitments to the International monetary Fund (IMF) to continue to receive funds from the organization, said the head of the EU delegation to Ukraine Jan Tombinski. About it reports «Interfax-Ukraine».

«It was a question that should be executed all the provisions that have been discussed with the IMF, to open the opportunity for (post — ed) funding», he said after talks with Ukrainian President Petro Poroshenko, Prime Minister Arseniy Yatsenyuk and Parliament speaker Volodymyr Groisman in Kiev on Thursday, 4 February 2016.

However, he said that during the meeting it was not about the specific risks that the IMF may provide Ukraine the next tranche.

Recall, the main reason for the meeting is a serious concern of foreign ambassadors, caused by the sudden resignation of the Minister of economic development and trade of Aivaras of Abromavicius.

As reported by IMF in March 2015 the four-year EFF program for Ukraine with the total volume of 12,348 billion SDR (about 17 billion dollars) was initially suggested conducting a quarterly review of the programme, the allocation of Kiev 2015, in four tranches in 2016 — four more. However, to date the country has received only the first tranche of funds to $ 5 billion and second — 1.7 billion.

At the end of January, Poroshenko said that during his visit to Davos has agreed with the managing Director of the International monetary Fund Christine Lagarde points concerning granting Ukraine the next tranche of the loan. According to the President, in cooperation with the IMF expects Ukraine tranche in the amount of 1.7 billion dollars in the near future to replenish gold and currency reserves.

The President also said that he sought to remove from the pension reform provision for the raising of the retirement age. «I can stress that I asked to have the pension reform, we removed the requirement about increase of the retirement age, and, given the complex social situation in which we have Ukraine, we found these compromises, we went to meet him,» said Poroshenko.

In turn, the Minister of Finance Natalia Yaresko said: «If we continue (cooperation with the IMF – ed.) and aimed at a reform programme with the IMF, including IMF and all bilateral and multilateral sources, it will be up to 10 billion dollars».

On February 1 the head of the national Bank of Ukraine Valeria Gontareva reported that the country’s authorities this week may send the IMF an updated Memorandum of economic and financial policies under the extended Fund facility EFF that will allow the Fund within two to three weeks to consider the allocation of Kiev loan of the third tranche in the amount of 1.18 bln SDR (1.63 billion dollars).

Gontareva noted that the recent discussions with the leadership of the IMF draft Memorandum in Davos, which was attended by President Poroshenko and Yaresko, in her estimation, showed that «everything is OK».




The ambassadors of the G7 countries at a meeting with Poroshenko, Yatsenyuk and Groisman demanded the execution of all obligations to the IMF — Tombinski 04.02.2016

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