IMF will issue credits to Ukraine in any circumstances

Christine Lagarde, the Managing Director of the International Monetary Fund (IMF) declared in a letter, addressed to Members of the Financial Community on June 12.

Censor.NET reports citing RBK-Ukraina.

"The Ukrainian authorities have embarked on an ambitious economic program for 2015-18 aiming at deep-reaching macroeconomic adjustment and structural reforms. It includes a substantial fiscal consolidation and energy sector reforms, the rehabilitation of the banking system, the build-up of the National Bank of Ukraine's (NBU) international reserves to prudent levels, and the improvement of the business environment to enhance the productive potential of the economy. The economic program is being supported by exceptional financing from the IMF under the recently approved extended arrangement (EFF) as well as by financial assistance from the EU, U.S., other International Financial Institutions, and bilateral partners," Lagarde wrote.

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"The IMF, in general, encourages voluntary pre-emptive agreements in debt restructurings, but in the event that a negotiated settlement with private creditors is not reached and the country determines that it cannot service its debt, the Fund can lend to Ukraine consistent with its Lending-into-Arrears Policy.

"The Ukrainian authorities are fully cognizant of the large challenges ahead-including substantial macroeconomic risks stemming from the unresolved conflict in the East--and have reaffirmed their steadfast determination to tackle economic imbalances that held Ukraine back in the past, and deepen structural reforms in order to achieve robust and sustainable growth. I believe that their program warrants the support of the international community, including the private sector, which is indispensable for the success of this program," Lagarde concluded.

Источник: https://censor.net.ua/en/n339914