The next mission from the International Monetary Fund (IMF) is to visit Ukraine in October this year, Acting Finance Minister Ihor Umansky has said.
He told reporters on Wednesday that the mission would determine how
a memorandum between Ukraine and the IMF had been implemented.
“If these causes [behind the incomplete implementation of the
memorandum] are objective, rather than subjective, I think the mission
will have all grounds to propose that the [IMF] Executive Board
continue work [with Ukraine],” Umansky said.
As reported, Ukraine’s Presidential Secretariat predicted earlier
that the country would face difficulties winning the disbursal of the
next tranche of the IMF’s loan to Ukraine.
“My talks with the [IMF] mission chief allow me to conclude that
they are greatly disappointed at the way Ukraine is acting, as the
country is not only failing to comply with the obligations it had
undertaken, but is misinforming [the fund] about their implementation,”
said the secretariat’s first deputy head, Oleksandr Shlapak.
Ukrainian President Viktor Yuschenko previously said that the
continuation of Ukraine’s cooperation with the IMF could be
jeopardized, as the Ukrainian government had not implemented five of
the six conditions of the Stand-By Arrangement (SBA).
Ukraine has already received $10.5 billion under the SBA with the
IMF, and another $6 billion has yet to be allocated, including the $3.8
billion that is to be transferred to Ukraine by the end of this year.
IMF experts led by IMF Mission Chief in Ukraine Ceyla Pazarbasioglu
arrived in Ukraine last week to draft and analyze Ukraine’s state
budget for 2010. Their visit should have served as preparations for the
IMF mission’s arrival in the country late in October in order to hold
talks on the completion of the third review of the SBA and the possible
allocation of the next tranche of the fund’s loan.
