IMF Staff Concludes Review Mission to Ukraine

An International Monetary Fund (IMF) mission visited Kyiv during May 10–18, to continue discussions on the second review under the Extended Fund Facility (EFF) arrangement (see Press Release No. 15/107).

At the conclusion of the visit, Ron van Rooden, mission chief for Ukraine, issued the following statement today:

“The mission reached staff level agreement with the authorities on policies needed to complete the second review under the EFF, subject to approval by IMF management and the Executive Board. Ukraine has made considerable progress in restoring macroeconomic stability over the past year under difficult circumstances. Steadfast implementation of structural and institutional reforms is now critical to turn the recent recovery into strong and sustainable growth, with unwavering determination in the fight against corruption emerging as a litmus test for the government’s ability to retain broad domestic and international support for its policies. It is therefore important that the authorities boost their efforts to entrench fiscal and financial stability, decisively enhance transparency and the rule of law, and reform the large and inefficient state-owned enterprise sector. The implementation of strong measures in these areas will pave the way for the IMF Executive Board’s consideration of the review, expected in July 2016.”