The International Monetary Fund mission held productive talks with Ukraine, but the country must show more progress on reforms to reach an agreement for a new tranche under the $5-billion program, the IMF representative in Kyiv said on Saturday, as was reported by Reuters.
The statement by the IMF representative in Kyiv on February 13 came after the fund's mission held talks with Ukraine.
“Discussions will continue”, Goesta Ljungman, the head of the IMF representative office in Ukraine, said in a statement.
The discussions focused on strengthening governance of the National Bank, improvements to the legislative and regulatory framework for bank supervision and resolution, policies to reduce the medium-term fiscal deficit, legislation restoring and strengthening the anti-corruption framework and the judiciary, as well as on energy policy, he said.
Ukraine expects to receive $2.2 billion in three equal tranches from the IMF in 2021, National Bank Governor Kyrylo Shevchenko told Reuters. The IMF in June approved the $5 billion loan program and disbursed the first tranche of $2.1 billion to help the pandemic-hit Ukrainian economy. However, further loans have been put on hold due to the slow pace of reforms in Ukraine.
The IMF also voiced concern over the government's decision last month to regulate household gas prices.
Goesta Ljungman recalled that the mission worked in Ukraine from December 21 to 23 and from January 11 to February 12.