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"We don’t need the IMF to go through this year," Hetmantsev told where Ukraine will get the money in case of negotiations failure

Author
Yulia Ustymovych

The government expects that Ukraine will receive the next tranche from the IMF. However, if this does not happen, then the government can raise funds from other sources.

This is evidenced, for example, by the floating of Eurobonds on fairly good terms by the Ministry of Finance, Chairman of the Rada Committee on Finance, Tax and Customs Policy Danylo Hetmantsev told The Page.

"We, of course, look forward to getting a tranche. Our negotiating team, led by the Minister of Finance, is doing everything possible to make this happen as quickly as possible. I am convinced that we will get the next tranche."

Danylo Hetmantsev

Danylo Hetmantsev

The Head of the Verkhovna Rada Committee on Finance, Tax and Customs Policy

However, he noted that failure of getting the tranche cannot cause some kind of financial catastrophe in the country. If the tranche cannot be obtained, of course it will be more difficult to go through a year, but Ukraine will still raise funds from other sources.

Quote"We are doing our best to get the next tranche of the IMF. But not because we want to prevent some kind of financial catastrophe, but because we understand that with the IMF it will be easier for us to go through this year," Hetmantsev said.

At the same time, he noted that the requirements put forward by the IMF are not so much needed by the fund as by the citizens themselves. After all, Ukraine needs judicial reform and anti-corruption legislation. In particular, the Cabinet of Ministers is to submit to the Rada a draft law on fiscal consolidation next week.

Context. The international rating agency Fitch Ratings expects that Ukraine will get only one loan tranche from the IMF in 2021 in the amount of $0.7 billion.

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