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Thursday, December 2, 2021

Ukraine needs guarantees of successful cooperation with the IMF : Marchenko

Ukraine today has a sufficient margin of financial strength to negotiate with the International Monetary Fund on the first revision of the stand-by program and receiving its second tranche, Finance Minister Sergei Marchenko said on the sidelines of the Ukraine 30 All-Ukrainian Forum. And he stressed: we are also interested in their early successful completion.

“We can negotiate calmly at the moment. But I cannot say that it can be like this all the time. Anyway, the sooner the better, we need to guarantee ourselves in the program, fulfill the obligations we have, and receive tranches, ”the minister said.

Marchenko stressed that this is fundamental for Ukraine, since we are talking not only about the current year, but also about 2022-2023, which are predicted to be quite tense.

“Investors trust us. We have a clear, understandable logic of actions. We do not offer them tools that have not been calculated, we do not take uncalculated steps, we are predictable, therefore they trust us, ”the minister said.

Expectations

According to the minister, the Ukrainian economy is expected to recover in such a way that new investors can be expected to enter both the government bonds market and the Eurobond market.

At the same time, he avoided answering the question directly when the Ministry of Finance plans to issue Eurobonds.

“As soon as we place or will be announced, you will know about it. There is nothing to talk about yet, ”Marchenko said.

The head of the Ministry of Finance pointed out that Ukraine cannot do too long without external borrowing, because it must fulfill its external debt obligations.

“And it is desirable to attract cheaper loans so that we have the opportunity to repay,” the minister said.

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