IMF to resume loan talks with Ukraine next week
- Ukraine had secured a $5 billion deal in June to support its economy through a sharp slump caused by the coronavirus pandemic.
- Given the COVID pandemic, the mission will hold remote meetings with the Ukrainian authorities to discuss economic developments.
KYIV: The International Monetary Fund will hold talks with the Ukrainian authorities next week for a review of country's $5 billion loan programme, the IMF and President Volodymyr Zelenskiy said on Friday, marking a breakthrough after months of delay.
Ukraine had secured a $5 billion deal in June to support its economy through a sharp slump caused by the coronavirus pandemic. It received $2.1 billion in June but the programme then became mired in concerns over progress on reforms and the independence of the central bank.
The talks will start on Dec. 21-23 and continue in January.
"Given the COVID pandemic, the mission will hold remote meetings with the Ukrainian authorities to discuss economic developments, and policies and reforms to underpin the completion of the review," Gosta Ljungman, the IMF Resident Representative in Ukraine, said in a statement.
Ukraine's Prime Minister Denys Shmygal expects a new loan tranche to be disbursed in February or March, Interfax Ukraine quoted him as saying on Thursday.
Ukraine's parliament passed its budget this week and voted to restore anti-corruption legislation that had been struck down by the Constitutional Court in October. Both votes were seen as key to improving Kyiv's chances of securing new loans.
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