22 Jun 2022 16:55

Ukraine considers new IMF program fundamental, lawmaker says

MOSCOW. June 22 (Interfax) - Ukraine continues to work on a new program with the International Monetary Fund, said Danylo Hetmantsev, chairman of the parliamentary committee on finance, taxation and customs policy.

"The situation with the IMF is quite categorical: we are working on a new program. We consider this fundamental for us," Hetmantsev told Ukrainian media.

IMF representative Gerry Rice said during one of his briefings when asked about the possibility of a new IMF arrangement for Ukraine that such a program should be medium-term, and it is advisable to launch it when the reconstruction begins following the military operation. Meanwhile the focus should be in short-term aid, Rice said, adding that the Ukrainian government would like to start a new program with the IMF.

National Bank of Ukraine Governor Kyrylo Shevchenko has also spoken of the need to start discussing a new arrangement with the IMF.

The IMF in 2020 approved a standby facility of around $5 billion for Kyiv, but it was not fully implemented.