The IMF will not soon resume cooperation with Ukraine
For at least a few more months, Ukraine will not be able to resume active cooperation with the IMF.
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This was stated at a press conference in Kyiv by the executive director of the International Blazer Foundation Oleg Ustenko, who noted that next year Ukraine will face a lot of financial and economic challenges.
“If cooperation with the IMF is not maintained, then we will have to part with part of the gold and foreign reserves. In the baseline scenario, I would count on the fact that Ukraine will not be able to resume active cooperation with the IMF for at least the first quarter of next year. And if the Ministry of Finance really, as they said, tests and enters foreign capital borrowing markets, which is very possible in late spring - early summer, then an increase in the volume of gold and foreign currency reserves may begin. But I think this strategy is wrong, since we will have to borrow at least eight percent per annum, while Ukraine borrows from the IMF at three percent,” the expert recalled.
“At the same time, money from the IMF comes under the most serious control. And the money that the Ministry of Finance will borrow on the free market, if it does this, will go mainly to cover the state budget deficit,” Ustenko added.
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