04:59 GMT +307 December 2019
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    IMF Wants to See Acceleration of Reforms in Ukraine, Mission Chief Says

    © AFP 2019 / VASILY MAXIMOV
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    The International Monetary Fund (IMF) wants to see the acceleration of reforms in Ukraine required for receiving the fund’s financial aid, IMF’s mission chief for Ukraine, Ron Van Rooden, told Sputnik on Wednesday.

    WASHINGTON (Sputnik) — When asked how satisfied the IMF is with the progress of reforms in Ukraine, Rooden said, "We want to see an acceleration of reforms."

    "They need to go faster," he stated. "They've made a lot of progress and so the economy has started to stabilize, has started to grow but the country needs a faster pace of economic growth."

    The fund has seen "remarkable progress’’ in a number of areas, particularly in the micro policies, he said.

    "But on the side of the structure reforms, state of enterprise reforms, judicial reform, tackling corruption — that needs to accelerate," he added.

    In March 2015, the IMF approved a four-year program of financial aid to Ukraine, which stipulates a $17.5 billion loan to be paid out in installments over the next four years and originally open for review on a quarterly basis. The bailout package for Ukraine requires that Kiev implement a number of reforms.

    Ukraine heavily relies on foreign aid to support its economy and to pay debts amid the ongoing armed conflict with independence supporters in the country's southeast.

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    reform, International Monetary Fund, Ukraine
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