President of Ukraine

Ukraine and IMF agreed on a new program of cooperation

7 December 2019 - 23:46

President of Ukraine Volodymyr Zelenskyy had a phone conversation with IMF Managing Director Kristalina Georgieva. The Head of State told about the reforms currently implemented in Ukraine and discussed the terms of the new cooperation program with the Fund. The Head of the IMF praised the economic achievements of the new government and the progress made in implementing reforms by the government led by Prime Minister Oleksiy Honcharuk.

Following the conversation, the parties noted that Ukraine and the International Monetary Fund had reached an agreement (Staff Level Agreement) on a new cooperation program.

“Our conversation with IMF Managing Director Kristalina Georgieva was very constructive. I am glad that we have reached full understanding and our turbo-mode has been praised by the IMF. I am grateful to the Parliament, the Government and our entire team for their tireless work for the sake of Ukraine. The new program of cooperation with the International Monetary Fund aims to accelerate economic growth, actively eradicate corruption and improve well-being of every Ukrainian,” Volodymyr Zelenskyy said.

"We are not satisfied with the current rate of economic growth, therefore, in order to accelerate economic growth, we, together with our international partners, will continue reforms to catch up with our neighbors in terms of economic development and prosperity," the President stressed.

“I commended the extraordinary progress that President Zelensky and his government have made over the past few months in promoting reforms and continuing reasonable economic policy. I assured the President of the IMF's readiness to support the political plan of the government for macroeconomic stability and boosting the economy to higher, sustainable and comprehensive growth, among other things, with new IMF support. IMF staff have reached an agreement with the authorities on a policy of supporting a new three-year arrangement in the amount of four billion Special Drawing Rights (SDRs) within the IMF Extended Fund Facility,” Kristalina Georgieva emphasized.