Ukraine will send the IMF an updated Memorandum for the third tranche after the report Yatsenyuk in Parliament, is the source

Government representatives will sign the updated Memorandum of economic and financial policies of the International monetary Fund (IMF) under the extended Fund facility EFF after the report of the Prime Minister in Parliament, scheduled for February 16, reported the Agency «Interfax-Ukraine» a source in the authorities.

«The signing of the Memorandum was postponed due to delays by the Prime Minister,» says the source.

According to him, due to the fact that the Cabinet is waiting for assurances that he will remain on and will not be dismissed.

«It is obvious that such guarantees may appear after 16 February,» the source added.

As reported, after the aggravation of political contradictions in the Ukrainian government in the middle of the last decade their signatures under the Memorandum, the IMF put the President, Prime Minister, Minister of Finance and the national Bank head.

The head of the NBU Valeria Gontareva , on 1 February, suggested that Ukraine may send the IMF updated the Memorandum to receive the 3rd tranche of the EFF loan in the amount of SDR 1,18 billion (1.63 billion dollars) in the week, that would allow the Fund within 2-3 weeks to consider the allocation of these funds.

Gontareva noted that the discussion of the draft Memorandum in Davos on 20th January with the leadership of the IMF, which was also attended by President Petro Poroshenko and the Minister of Finance Natalia Jaresko, showed that «everything is OK».

However, in the following days, especially after the statement of head the Ministry of economic development of Aivaras Abromavicius resignation in connection with exerted pressure on him, the situation worsened as the coalition and in relations with the IMF.

Lagarde has twice expressed concern over the situation in the country, saying the gathering of authorities with reforms and announcing possible termination of funding.

«I was concerned at the slow progress demonstrated by Ukraine in improving public administration, fighting corruption and reducing the influence of vested interests on policy. In the absence of visible efforts to give new impetus to the reforms in the state governance and the fight against corruption it is difficult to imagine that the IMF-supported program will continue and will be successful,» – said in a statement the head of the IMF on 10 February.

«Ukraine risks returning to the practice of bad economic steps, which was enough in its recent history. It is vital that the actions by the leaders of Ukraine brought the country back on a promising reform path,» added Lagarde.

Open the IMF in March 2015 the four-year EFF program for Ukraine with the total volume of 12,348 billion SDR (about 17 billion dollars.) initially assumed the conduct of quarterly program review, 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.

Ukraine will send the IMF an updated Memorandum for the third tranche after the report Yatsenyuk in Parliament, is the source 11.02.2016

Февраль 11th, 2016 by
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