Finance Minister Marchenko meets with IMF mission chief to Ukraine

Ukrainian Minister of Finance Serhiy Marchenko has held a meeting with IMF Mission Chief to Ukraine Ivanna Vladkova Hollar, according to the ministry’s press service.

It is noted that Ukrainian First Deputy Minister of Finance Denys Uliutin and Deputy Minister for European Integration Yuriy Drahanchuk also took part in the meeting.

In particular, the parties discussed the progress in the implementation of structural "beacons" under the cooperation program and the issues of ensuring the independence of the National Bank and anti-corruption bodies.

"The Fund is one of Ukraine's key partners in restoring the country's economy and ensuring macroeconomic stability. This year we have worked hard to achieve a positive result. I hope that during this mission we will be able to resolve the issues that are still on the agenda as soon as possible," Marchenko said.

According to the Ministry of Finance, the mission will continue its work "in the coming weeks." Representatives of the Fund will hold a number of meetings with the Ukrainian executive authorities to assess the achievement of the program's objectives.

At the same time, further steps will be taken to ensure sustainable growth of the Ukrainian economy, implement structural reforms and overcome the consequences of the coronavirus crisis, according to the ministry.

As reported, the IMF started a virtual mission to Ukraine on September 21.

The Stand-By Arrangement (SBA) focuses on supporting macroeconomic and financial stability in the areas of fiscal, monetary, energy, anti-corruption policy and the financial sector. The IMF program offers opportunities for financial support from other international partners.

On June 9, 2020, the IMF approved a new 18-month SBA for Ukraine worth about $5 billion with the immediate disbursement of $2.1 billion as the first tranche.

The IMF completed a virtual mission to Ukraine for the first review of the SBA in mid-February without any recommendation about when to issue a next tranche.

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