A mission from the International Monetary Fund, or IMF, visited Ukraine during May 21-29 with the purpose of analyzing recent political developments in the country as well as progress on economic policies pursued by Ukraine.
During its visit to Ukraine the IMF team, led by IMF assistant director for Europe, Ron van Rooden, met with Ukrainian authorities, including the newly-elected President of Ukraine Volodymyr Zelenskiy.
The IMF said in a statement that the discussions were productive and added that the country’s “fiscal and monetary policies remain on track.”
In its end-of-mission press release the IMF also mentioned that its mission “stands ready to return to Kyiv to continue discussions after the forthcoming parliamentary elections as soon as a new government has clarified its policy intentions.”
Ukraine has been a member of the IMF since Sept. 3, 1992.
Active cooperation of Ukraine and the IMF started in 1993 with a system transformation loan amounting to 498.7 million in IMF Special Drawing Rights (equivalent to $763.1 million) which was aimed at “supporting the balance of payments of Ukraine,” according to the Ministry of Finance of Ukraine.
Currently, Ukraine cooperates with the IMF under a 14-month standby agreement worth $3.9 billion, according to the ministry.
As of the beginning of 2019, Ukraine’s total state debt equaled $78.3 billion, which reflected the debt’s annual growth rate of 2.46 percent, according to the ministry.
