Ukraine, IMF and World Bank discuss cooperation prospects
MOSCOW. Oct 12 (Interfax) - Ukraine's delegation discussed prospects for further cooperation on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank in Washington.
"The issues on the agenda are our joint work with the fund to ensure Ukraine's macroeconomic stability [...] and the importance of the full-fledged program with the IMF," Ukrainian Ambassador to the U.S. Oksana Markarova said on social media following the meeting.
The meeting in Washington with IMF Managing Director Kristalina Georgieva was attended by Ukrainian Finance Minister Sergei Marchenko and his deputies, the government's commissioner for public debt management Yury Butsa, National Bank of Ukraine Deputy Governors Sergei Nikolaichuk and Yury Geletiy, and IMF Alternate Executive Director for Ukraine Vladislav Rashkovan.
Officials of the Ukrainian Finance Ministry also met with World Bank Managing Director of Operations Axel van Trotsenburg, World Bank Vice President for Europe and Central Asia Anna Bjerde, and World Bank Regional Country Director for Eastern Europe Arup Banerji, Marchenko said.
"There have been constructive discussions on further cooperation and the implementation of potential programs for financing the state budget and the restoration of Ukraine. I received assurances from partners that powerful support will continue to be provided," the Ukrainian finance minister said on social media.
As reported, the IMF Executive Board last week approved the disbursement of $1.3 billion to Ukraine under the Rapid Financing Instrument (RFI) to help meet Ukraine's urgent balance of payments needs.
"This disbursement under the RFI (equivalent to 50 percent of Ukraine's quota in the IMF) will help meet urgent balance of payment needs, including due to a large cereal export shortfall, while playing a catalytic role for further financial support from Ukraine's creditors and donors," the IMF said.
The World Bank announced in early October an additional $530 million to help the government of Ukraine meet urgent needs.
"The International Bank for Reconstruction and Development financing is supported by timely loan guarantees by the United Kingdom ($500 million) and the Kingdom of Denmark ($30 million)," it said.
The additional financing was arranged under the Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) Project, which supports continued government capacity, including the provision of core public services such as health, education, and social protection.