Tuesday, August 30 2016 16:00 EEST
Ukraine issue has not been incorporated in the upcoming meetings of IMF again
Business, economy, Ukraine, issue, IMF, not incorporated, not included, upcoming, meetings, agenda, money, tranche, August

The Ukraine issue has not been incorporated in the upcoming meetings' agenda of the Executive Board of the International Monetary Fund (IMF), although the fund will consider cooperation with Serbia, Belarus, Brunei, Sudan, Bosnia and Herzegovina and the Republic of Kiribati, according to a posting on the IMF website.

Late this month, the IMF Executive Board resumed its work after August vacations, however, the Ukraine issue was not included into its agenda, Unian reports.

In autumn 2015, while Kyiv was awaiting the EFF's second review for the disbursement of the third tranche worth $1.7 billion, the situation in Ukraine was complicated by local elections in October 2015 and later by the serious political debates around tax reform and the budget for 2016. Cooperation with the IMF was frozen. Early in 2016, political confrontation between the different branches of power in Ukraine increased.

IMF Managing Director Christine Lagarde called on the Ukrainian authorities to look for a political compromise and implement urgent measures to end corruption, but talks with the IMF resumed only late in April 2016 following the formation of a new Ukrainian government headed by former parliament speaker Volodymyr Groysman.

The two sides returned to the second review of the cooperation program and agreed, according to the Ukrainian authorities, on all matters of argument on the Memorandum of Cooperation, which included assessment of the reforms and tasks for the future.

The memorandum was expected to be signed early in July and the IMF's Executive Board was to consider the Ukraine issue late in July to pave the way for the third tranche. Its sum was also under discussion, varying from $1 billion to $1.7 billion.

However, till date, the document has not been signed and the Ukraine issue has not been considered.

As reported earlier by 1492news.com, Ukrainian Finance Minister has not ruled out budget cuts in case cooperation with IMF is reduced.

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