The IMF will provide Ukraine with a five billion dollar loan

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September 15, 2019, 17:51 | Business

The International Monetary Fund will conclude a three-year agreement with Ukraine on the provision of credit assistance.

The IMF will provide Ukraine with five billion dollars credit

Ukraine is going to agree on a new loan in the amount of about 5 billion US dollars from the International Monetary Fund, Ukr.Media informs.

«The expanded means of the fund will replace the short-term program, which helped the Eastern European country survive a difficult year of presidential and parliamentary elections. It is likely to last three years, said the people, who asked not to be named because negotiations are ongoing.

As noted, an IMF mission arrived in Kyiv this month to discuss parameters a new program that requires further steps to combat corruption, curb the budget deficit and liberalize the agricultural land market. The government also said it hopes to reach an agreement at the IMF staff level this month, and the new program will be implemented by the end of the year.

Earlier, the head of the National Bank of Ukraine, Yakov Smoliy, said that cooperation with the IMF is extremely important for maintaining microfinance stability. in Ukraine, as well as a guarantee of the further implementation of reforms in the country, necessary for the growth of the Ukrainian economy

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