Former Finance Minister Pynzenyk Points To Risk Of Terminating Ukraine-IMF …

Former Minister of Finance Viktor Pynzenyk draws attention to possible risk of terminating a stand-by arrangement between Ukraine and the International Monetary Fund, Pynzenyk’s press-service said in the statement.

“Termination of the Ukraine-IMF stand-by arrangement is becoming real,” the former minister emphasized. The International Monetary Fund has reserved fund allocations for Ukraine under the entire stand-by program,” according to Pynzenyk.

“As soon as the program is annulled, so will the “reservation”. A great number of countries facing serious problems and seeking financing are relying on IMF support,” the statement said.

One of the main reasons for recent suspension of Ukraine-IMF cooperation is that the Ukrainian leadership has disagreed with the IMF requirements to raise gas prices for households and heat and power thermal plants, the former minister said.

To further cooperate with the IMF Ukraine should meet the requirements and make unpopular decisions like other countries attracting IMF support do, he added.

If the stand-by arrangement is terminated, Ukraine may encounter grave economic problems, Pynzenyk said.

Therefore, the government should take measures to keep away from such a dramatic scenario, the former minister stressed.

As Ukrainian News reported, earlier the World Bank said about a risk of terminating the stand-by arrangement between Ukraine and the IMF.


Leave a Reply

You must be logged in to post a comment.