Ukraine fulfills IMF conditions for new loan: PM
Ukrainian Prime Minister Arseny Yatsenyuk said Wednesday that his country has fulfilled all the conditions needed to secure a new loan from the International Monetary Fund (IMF) and awaiting an approval of the financial aid next week.
“All the IMF requirements were fulfilled and we expect the decision of the IMF’s executive board on March 11,” Yatsenyuk told a cabinet meeting.
He emphasized that Kyiv hopes only for a positive decision by the IMF, as the new loan is vitally important for Ukraine to stabilize its economy.
On Monday, the Ukrainian parliament has approved a set of bills which are the part of the IMF requirements to approve an extended fund facility of 17.5 billion US dollars for Kyiv.
The new laws included budget amendments, pension cuts and increase in utility bills.
To receive the full aid package, Kyiv has also undertaken a commitment to implement a series of deep structural reforms in the energy, financial, banking and administrative sectors within the next four years.