Replacement of the IMF loan program: Ukraine failed to cooperate with the Fund – the economist

Замена кредитной программы МВФ: Украина провалила сотрудничество с фондом – экономист

The international monetary Fund (IMF) changes the loan program for Ukraine because of the failure of cooperation.

This commentary, ГолосUA said economist Viktor Skarshevsky.

“If Ukraine goes from pre-default state, then she does not need IMF loans. We can say that Ukraine has failed in the current lending program. Of the 18 billion dollars the country received only 8, 5 billion. Perhaps we’ll get another 2 billion and in total, it will be 11 billion of the 18 provided. This is called a failure of cooperation”,- said Viktor Skarshevsky.

He said that the state budget for 2019, the government has already laid the obtaining new loans from the IMF in the amount of $ 4.5 billion.

“This money will go to the reserves of the national Bank. These tools do not help Ukraine to pay foreign debts. The next tranche can be spent only for the payment of previous debts to the IMF. It cannot be used to support the hryvnia. In the end, in 2019 external debt of Ukraine will increase almost $ 5 billion. Debt hole is growing rapidly”,- summarized V. Skarshevsky.

We will remind, the President’s representative in the Verkhovna Rada Iryna Lutsenko stated that the international monetary Fund will announce a new program for Ukraine.

“The IMF changed the assistance program [Extended Fund Facility of 17.5 billion us dollars], which worked on the stand-by program. And the program of international assistance of stand-by is given to those countries that came out of the pre-default state. Even the IMF changed the program for the country, which is beginning to develop, but that there are still problems, but which is not in preddefoltnom state, reflects the international financial institutions that Ukraine is showing very good growth.

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