WASHINGTON (Pakistan Point News / Sputnik - 19th October, 2019) The International Monetary Fund (IMF) mission to Ukraine will return to the country in a matter of weeks in order to continue negotiations regarding a new three-year loan, Finance Minister Oksana Markarova said on Friday.
An IMF delegation visited Ukraine September 12-26 to assess the situation regarding offering a new loan. Ukrainian Prime Minister Oleksiy Honcharuk said after the meeting that a loan may be signed in December.
"This is the third program I am taking part in negotiating with the IMF and ... we are moving in these discussions faster than last year and three years before," Markarova said.
In December 2018, the IMF approved a $3.9 billion stand-by loan program for Ukraine for 14 months. Of this sum, $1.4 billion was transferred in December, and the remaining funds were to be allocated based on semiannual reviews.
Initially, Kiev expected to receive the next IMF tranche in May, but the IMF postponed the transfer until after the new Ukrainian government was formed. The stand-by program was thus halted and the sides started negotiating a new agreement to replace the previous deal.