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IMF began virtual mission in Ukraine

The start of the IMF mission in Ukraine. Photo: Flickr

The start of the IMF mission in Ukraine. Photo: Flickr

Today, September 21, the International Monetary Fund has started its virtual mission in Ukraine on the revision of the Stand-by program. This was announced by Vahram Stepanyan, the representative of the Fund in Ukraine, Bloomberg reports.

Ivanna Vladkova Hollar will lead the mission. The mission completion date is still unknown.

"The IMF mission, led by Ivanna Vladkova Hollar, starts its work today," Stepanyan stated.

Ukraine expects the IMF second tranche under the Stand-by program in the amount of $750 million in late November—early December.

Context. In June 2020, the IMF approved a Stand-by program for Kyiv. Its total volume amounted to about $5 billion, the first tranche was about $2.1 billion. However, the mission subsequently suspended funding due to Ukraine's failure to fulfill a number of obligations.

Last week, Gerry Rice, Director of the IMF Communications Department, said that the themes for discussion between the Fund and the Ukrainian side will remain unchanged: the independence of the National Bank of Ukraine, judicial reform, and the fight against corruption.

Kyrylo Shevchenko, the Governor of the National Bank of Ukraine, said that the amount of the second Stand-by tranche could be higher than the planned $700 million provided the tranches are consolidated. This issue will be negotiated during the discussion with the mission.

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