IMF launches fund for supporting reforms in Ukraine
The International Monetary Fund (IMF) has announced the launch of a fund for the development of capacities of Ukraine to which donors have allocated US$14 million.
Source: Andrii Pyshnyi, Head of the National Bank of Ukraine, on Facebook
Quote: "Today [on 14 October – ed.], the IMF announced the launch of the Fund for Development of Capacities for Ukraine. It will cover the needs for the implementation of the development plan of our country’s potential and successful conduction of reforms."
Pyshnyi stressed that the two latest memorandums between Ukraine and the IMF focus mainly on preserving the macroeconomic, external and financial stability in order to strengthen the capacity of Ukraine.
In addition to this, several directions are important in this joint initiative – international financial aid, reforming the Ukrainian economy and strengthening the institutional capacity of the governmental bodies. Important components for each of them are rhythm, timeliness and fullness. The reforms in Ukraine must happen continuously, non-stop and based on the best examples from all over the world.
"The IMF has once again confirmed its leadership in the process of mobilisation of financial aid for Ukraine. As of now the donors have allocated US$14 million. The goal is to raise US$65 million," Pyshnyi added.
Background:
- In preparation for the second revision of The Extended Fund Facility (EFF), the International Monetary Fund noted at least three important achievements of Ukraine related to the stabilisation of the economy.
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