Commitment to reform is key in Ukraine aid programme: IMF

Washington, March 14: The International Monetary Fund (IMF) said Thursday that its fact-finding team will complete its work in Ukraine as early as Friday and the evaluation on its commitment and capacity to reforms is key in considering the financial aid programme.

“The next steps would be for that fact-finding team to make their presentation, their assessment to brief IMF management,” Xinhua quoted IMF spokesperson Gerry Rice telling reporters.

While saying discussions in Kiev have made “good progress,” Rice noted “everything is contingent on the assessment of the mission.”

The 188-member global lender previously offered a multi-year loan program of $15 billion to Ukraine in 2010, but ceased providing funding at the end of 2011 as the country did not live up to the reforms measures it had committed.

After meeting Prime Minister of Ukraine Arseniy Yatsenyuk, IMF Managing Director Christine Lagarde said Wednesday the IMF mission to Ukraine made good progress and the fund is keen to help the country to restore economic stability.

Rice said there are indications of commitment to reform and the fact-finding team will be reporting on this before the management makes a decision.