Ukraine has made tangible progress in relations with the IMF

The head of the IMF called a constructive conversation with&# 160; President&# 160; Vladimir Zelensky, in which&# 160; discussed&# 160; fight&# 160; corruption&# 160;

KIEV – Ukraine marks the implementation of all structural beacons provided for the revision of the IMF program. This was stated by the President of Ukraine Volodymyr Zelensky on November 17 during a telephone conversation with the Managing Director of the International Monetary Fund Kristalina Georgieva.

«To date, all structural beacons provided for the revision of the IMF program have been completed», – stated Vladimir Zelensky, according to his press service.

He stressed that Ukraine highly appreciates the comprehensive support of the IMF.

«I am grateful to you and the Fund team for making the decision to increase the first tranche under the stand-by program to $ 2.1 billion, which allowed us to pass this period normally and finance the costs of medicine, social programs and financial obligations», – noted Vladimir Zelensky.

The leader of Ukraine announced the continuation of the reform of anti-corruption bodies, about the priorities in this direction.

«We took a number of urgent steps and decisions, in particular, we called a meeting of the NSDC, the government made an order to ensure the functioning of the register of e-declarations, and I proposed to the parliament a draft law on resetting the entire composition of the Constitutional Court. Today there are no threats to the activities of NABU. Our teams discussed the full return of the e-declaration and noted the action plan and preparation of relevant bills», – the head of the Ukrainian state emphasized.

IMF Managing Director Kristalina Georgieva emphasized that the work of the Prime Minister with the Fund’s team made it possible to consolidate the relations of the parties at a high level and achieve tangible progress. She also noted the quick reaction and measures taken by the Ukrainian authorities after the decision of the Constitutional Court. According to Georgieva, the Fund appreciates the cooperation of the head of the NBU Kirill Shevchenko with the IMF team, according to the presidential press service..

The President stressed that in connection with the fight against the coronavirus epidemic and the economic challenges associated with COVID-19, the first revision of the Fund’s program and the start of the mission will be an important signal for the domestic and foreign markets..

«Our teams have strong trust and work closely to conclude negotiations and accept the IMF mission as soon as possible.», – he said.

About full coordination of actions

On Twitter, IMF Managing Director Kristalina Georgieva called the conversation with the President of Ukraine Volodymyr Zelensky constructive. At the same time, she stressed that before revising the program of cooperation between the Fund and Ukraine, it is necessary «full coordination of actions».

«Constructive telephone conversation with President Zelensky on the implementation of the IMF program, the independence of the central bank and the fight against corruption. Full coordination of actions is necessary before revising the program», – wrote Georgieva late in the evening on November 17.

According to the Ukrainian Service «Radio Liberty», On June 9, 2020, the Board of Directors of the International Monetary Fund approved an eighteen-month program of cooperation with Ukraine worth $ 5 billion, which will be implemented if Ukraine fulfills a number of conditions. Ukraine received the first tranche of $ 2.1 billion on June 12.

Back in early September, the head of the National Bank, Kirill Shevchenko, expressed hope that the IMF would transfer a new tranche to Ukraine by the end of 2020. Other representatives of the Ukrainian authorities made similar statements, notes «Radio Liberty».

Foundations – everything as intended

Expert on Politics and Economics from the Foundation «Maidan zakordonnyh sprav» Yuri Smelyansky notes that, speaking about the fulfillment of tasks for cooperation with the IMF, it is important not to forget about the need to overcome a number of crisis phenomena in the economy and politics of Ukraine.

«All decisions in the government are made on the basis of political expediency to strengthen the rating of the government. Cooperation with the IMF also depends on the development of anti-corruption legislation. But the country has not overcome the constitutional crisis, there are no necessary decisions», – says Yuri Smelyansky to the correspondent of the Russian Service «Voices of America».

He believes that the IMF is interested in the fact that its funds were spent as intended. And the rhetoric of negotiations between the Ukrainian leader and the managing director demonstrates a whole list of tasks that still need to be solved, the economist notes..

Ukraine has made tangible progress in relations with the IMF

«Recommendations for the Ukrainian authorities are contained in a number of hackneyed phrases, but they are not being implemented either: the funds that Ukraine would like to attract from the IMF should generate new tax revenues, create jobs, develop the economy», – notes Yuri Smelyansky.

The use, including of foreign funds from the Fund to Combat Coronavirus, according to him, can be an example of the use of targeted funds in the country..

«For example, this fund is being filled to create conditions for overcoming the coronavirus, for the development of vaccines and financing of medical workers, increasing the number of beds, and road construction is not added to this list to fight the pandemic at all.», – notes Yuri Smelyansky.

In the focus of attention of the IMF

According to the director of the Center for Public Information Technologies «Forum» Valeria Dymova, imitation of the activities of the Ukrainian authorities is not enough for the International Monetary Fund.

«I think there will be problems, I don’t know how Zelensky will get out of the situation that has developed today. The IMF Managing Director says she would like to see Ukraine’s readiness to continue cooperation not at the level of promises, but at the level «road map», «lighthouses», bindings. But we see that what was promised is not being fulfilled. The National Agency for the Prevention of Corruption, the National Anti-Corruption Bureau, the Specialized Anti-Corruption Prosecutor’s Office are subject to some ostracism by the Zelensky faction in the Verkhovna Rada…», – says Valery Dymov to the correspondent of the Russian Service «Voices of America».

He notes that the change of leadership at the National Bank, the constitutional crisis, criticism and pressure on the bloc of anti-corruption structures – issues that remain the focus of attention of the IMF.

«The IMF will not give funds to a country that directs this money to corruption schemes. The Fund sees that the government cannot take anti-corruption steps. The IMF wants mutual understanding on how the obstacles to building anti-corruption legislation in the country will be overcome, which will not allow money to settle in the pockets of those who govern the country», – notes Valery Dymov.

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