Few weeks left till full-fledged support programme for Ukraine – IMF

The International Monetary Fund will end its preparation of full-fledged support for the Ukraine programme in a few weeks; at the moment, this plan has to be approved by the management of the Fund. 

Source: Kristalina Georgieva, IMF Managing Director, in an interview with CNBC

Details: Georgieva has pointed out that a decision about a new programme has to be made operatively, as time is not on Ukraine’s side amid these extraordinary war conditions.

"We are not talking about a long period of time. We are talking about a number of weeks, not a long period of time," she added while replying to a question about the timeframe of this programme.

Georgieva has said that the IMF is convinced that Ukraine is meeting its requirements regarding fiscal policy, governance, anti-corruption and the performance of the financial sector.

Quote: "We have a country where institutions work. Where pensions are paid. Where social services are in place. Where the government is keenly interested to continue to reform even when bombs are falling."

More details: The IMF has estimated that Ukraine may need financial aid worth US$40-48 billion this year. 

Georgieva has added that, apart from supporting the Ukrainian economy during the war, reforms will also help accelerate Ukraine’s efforts to become an EU member. 

Accordingly, helping Ukraine move towards the EU is one of the priorities of the cooperation between the IMF and Ukraine.

Background: 

On Friday, 17 February, the International Monetary Fund's (IMF) mission to prepare for the revision of the monitoring programme ended in Warsaw, as the Fund's representatives and the Ukrainian authorities reached an agreement at the staff level.

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