Ukraine expects to bring $5 billion from the International Monetary Fund (IMF) into this year's budget via a cooperation program, Finance Minister Serhii Marchenko said on Friday
KIEV (Pakistan Point News / Sputnik - 03rd April, 2020) Ukraine expects to bring $5 billion from the International Monetary Fund (IMF) into this year's budget via a cooperation program, Finance Minister Serhii Marchenko said on Friday.
On Thursday, President Volodymyr Zelenskyy expressed hope that Kiev and the IMF will ink a memorandum on the expanded program, which is said to bring Ukraine $8 billion from the fund.
"We and the IMF have agreed upon the limits of profit and deficit. We have defined precisely how much opportunity and resources we have to fill up the budget ... We hope to receive up to an additional $5 billion into the budget from the IMF by the year's end," Marchenko said during a discussion on the foremost measures to exit the country's�economic�crisis.
Since the 2014 coup, Ukraine's economy has been in a prolonged stated of crisis, having to rely on foreign financial aid in return for structural economic reforms.
Earlier in the week, the Ukrainian parliament passed a highly unpopular land reform, allowing private individuals and legal entities to purchase farmland. The reform is said to be pushed by the IMF in return for financial assistance.
