Ukraine will discuss at Davos financial support of the country with the IMF, EBRD, EIB and IFC


Moscow. January 20. The Minister of Finance of Ukraine Natalie Jaresko during the visit to Davos for the world economic forum, which will be held 20-23 January, plans to hold talks with the leadership of the International monetary Fund, European Bank for reconstruction and development, European investment Bank, the International Finance Corporation.

“In addition to participating in events and meetings within the forum, plan to spend more than 15 meetings with foreign Ministers of Finance of other countries, as well as with the leadership of the international financial organizations – partners of Ukraine (IMF, EBRD, EIB, IFC),” wrote Jaresko in Facebook.

In the framework of the visit the Minister plans to discuss issues related to the financial sector of Ukraine, the country’s achievements in the implementation of the reform program, including state budget-2016 and tax changes, as well as further financial support for Ukraine from international partners. It is also planned to discuss “further steps our government to restore economic stability and providing conditions for sustainable economic growth,” says Jaresko.

She expressed confidence that these meetings will help to strengthen financial support of Ukraine from international partners and, among other things, to increase the volume of investment loans.

The world economic forum in Davos are also planning to visit the President of Ukraine Petro Poroshenko and Minister of economic development and trade aivaras abromavicius.

Poroshenko recently stated that in the near future will be the “final polishing” of the updated Memorandum on the EFF program for Ukraine and held a meeting in Switzerland with representatives of the IMF. According to him, the adoption of the state budget for 2016 and fiscal package of laws significantly brought Ukraine to receive the third tranche of the IMF loan under the EFF program, however, will require additional negotiations.

“Almost certainly it would require my interference,” he said, adding that financial assistance from the IMF remains crucial for Ukraine.

Open the IMF in March 2015 the four-year EFF program for Ukraine with the total volume of 12,348 billion SDR (about us $17 billion) it was initially suggested conducting a quarterly review of the programme, the allocation of Kiev 2015, in four tranches in 2016 – four more. However, to date the country has received only the first tranche of funds by $5 billion and second – 1.18 bln SDR (around $1.6 billion).

Date of submission of the next tranche is still unknown. According to sources close to negotiations, in the optimistic scenario, the Fund may take a positive decision on the allocation of funds Ukraine in late January – early February 2016.