IMF may withhold support for Ukraine

The International Monetary Fund sees no progress in the Ukrainian reforms.

10 February 2016 16:39

If Ukraine doesn’t fight corruption adequately, the IMF may cease cooperation with Ukraine under the IMF’s Extended Fund Facility (EFF) program, reported the Managing Director of the Fund, Christine Lagarde.

- I'm concerned about Ukraine’s slow progress in improving governance, fighting corruption and reducing the influence of vested interests on politics. In the absence of significant efforts to give new impetus to reforms in state administration and the fight against corruption, it is difficult to imagine that the IMF- supported program may continue or be successful, according to a statement by the Head of the Fund.

She also noted that Ukraine may return to the practice of unsuccessful economic steps it has already faced in its history.

- It is vital that steps by the Ukraine’s leaders return the country to the encouraging path of reforms, said Lagarde.

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