27 Sep 2019 12:02

Ukraine has not reached agreement with IMF on new three-year EFF, to continue discussions in coming weeks

KYIV. Sept 27 (Interfax) - Ukraine has not yet reached an agreement with the International Monetary Fund on a new three-year Extended Fund Facility (EFF) for Ukraine, with discussions to continue in the coming weeks.

"Discussions on the new program will continue in the coming weeks," chief of the mission Ron van Rooden said in a statement following a two-week visit by IMF experts to Kyiv, after which discussions began on a new EFF.

"The mission has had productive discussions on policies for a new program these last two weeks, especially on fiscal and monetary policies, as well as key reform measures," Rooden said in the statement.

"It [the mission] also underscored the importance of central bank independence and safeguarding financial stability, as well as the need to make every effort to minimize the fiscal costs of bank resolutions," according to the statement.