IMF: the Cabinet of Yatsenyuk has overcome the financial crisis

МВФ: Кабмин Яценюка преодолел финансовый кризис

The representative of the International monetary Fund praised the reforms in Ukraine.

The steps made by the previous government of Ukraine headed by Arseniy Yatsenyuk, according to the IMF program, led to the end of the financial crisis, stabilize the country and restore competitiveness. In an interview, strand said the first Deputy Director of the IMF David Lipton.

According to him, Ukraine also had a huge positive impact solving problems in the gas sector.

“It concerns the elimination of subsidies for the poor, who often accrue not to the poor, and reducing wasteful use of gas. Also, as far as I understand, for the first time last winter, Ukraine has not imported Russian gas for their needs. I think this is a great achievement,” said Lipton.

Also, in the IMF we hope for the resumption of IMF cooperation with Ukraine on the path of necessary reforms. According to him, now the Ukrainian economy is ready to resume growth.

“We need to prevent rollback of the reforms that had already been done. The budget nearly balanced, the exchange-rate adjusted, the effects of the devaluation cropped, monetary policy is reasonable, the losses from the gas sector are also significantly reduced – so it is important not to let these processes go into reverse,” said Lipton.

According to him, there are a number of laws that Ukraine needs to take in order to fulfil their obligations regarding further reforms. “There is also the issue of further increase of tariffs, which will be discussed, as it is the key to financial and energy independence of Ukraine,” added Lipton.

Opinion: there was a month before the crisis

Earlier, Finance Minister Alexander Danilyuk said that the Ukraine about a year to live without IMF loans, noting that without reforms the crisis will begin within a few months.

In turn, the European Commissioner Johannes Hahn said that the authorities of Ukraine to resume cooperation with the IMF should adopt a law on electronic controller and lift the ban on timber exports, this will open the way for the allocation of EU aid.

As reported Корреспондент.netUkraine hopes to complete negotiations on the revision of the Memorandum with the IMF and to receive a tranche of 1.7 billion dollars by the end of June.

 

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