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IMF links loan amount to Ukraine with reforms

09-12-2013 12:15

It is premature to speak about the amount of a loan, which the International Monetary Fund could extend to Ukraine. IMF Resident Representative in Ukraine Jerome Vacher has said about this in an interview to Zerkalo Nedeli."Before adjustment of a concrete amount, an agreement should be reached on the policy, which would remove disproportions and stimulate growth, representing the basis for the financing program, which could be necessary," Vacher said.

 According to him, the matter concerns raising of the exchange rate flexibility in combination with the policy for strengthening of the financial sector, ambitious efforts for the budget consolidation and reduction of large quasi-fiscal losses in the energy sector.The already known list of the IMF recommendations was added by another, namely "all -round structural reforms for improvement of the business climate and stimulation of the economy growth."