The IMF mission started working in Ukraine

Moscow. November 12. The mission of the International monetary Fund on Thursday has begun work in Ukraine, informed the Agency “Interfax-Ukraine” a source in the government.

“The mission arrived on Wednesday and Thursday has already begun to work,” he said.

The Fund’s mission headed by Ron van Ore. During the visit, the mission will conduct further discussions with the Ukrainian authorities in the context of the programme of economic reforms, implemented with IMF support in the continuation of the previous technical discussions, which lasted from 22 September to 2 October.

According to the national Bank of Ukraine, the mission will work in Kiev until November 21. “Now the mission will come because there are all budget options, in the right direction to address the issue with the anti-corruption Prosecutor’s office. Therefore, we expect the mission with optimism”, – said earlier the head of national Bank Valeria Gontareva.

Opened in March this year a four-year EFF program with the total volume of 12,348 billion SDR (about $17,04 billion at the current rate) initially suggested conducting a quarterly review of the programme, the allocation in 2015 of four tranches. However, to date the country has received only the first tranche of funds by $5 billion and second – 1.18 bln SDR (around $1.63 billion).

The allocation of the third tranche under the EFF program is delayed. “The IMF has left, because we are not prepared to say, how to balance (cost reduction due to the tax reform),” said Finance Minister Natalie Jaresko after the September visit of the mission, noting that the fourth tranche this year will not be received.

The Finance Ministry has prepared proposals on reduction of budget expenditures by 60 billion UAH, however, the amendments must be approved by the government, and then sent to Parliament. According to Jaresko, among other outstanding issues in negotiations with IMF – further decisive steps to combat corruption, reforms.

The official rate for November 12 – 22,757 USD./$1.