Ukraine may not get new IMF program in 2022 – though it says it doesn’t need one yet

18 January, 07:30 PM

Ukraine may not obtain a new International Monetary Fund (IMF) support program in 2022, the chair of the Parliamentary Committee on Matters of Finances, Tax and Customs Policy, Danylo Hetmantsev, has said, Ukrainian news agency Interfax-Ukraine reported on Jan. 17.

 “I don’t see any problems with servicing the public debt in 2022 and fulfilling our (debt) obligations, if there aren’t any disturbances – the sorts of problems that would force us to conclude a new program with the IMF immediately,” Hetmantsev said.

The MP also said that Ukraine will need “to discuss the terms of this program” and make an deal “on terms beneficial to us.”

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At the same time, Hetmantsev said he was confident Ukraine would receive the remaining two tranches of $700 million under the current stand-by program, which is scheduled to end this summer.

Under the current Stand-By Arrangement with the IMF, $5 billion in total has been earmarked for Ukraine. The first tranche, received in June 2020, amounted to $2.1 billion. The country received the second disbursement, of $699 million, on Nov. 24, 2021.

“If the gas price remains the same, then I’m sure that we will continue to keep gas prices down,” Hetmantsev said.

“We will return to this issue in May or June.”

Earlier, Ukrainian Prime Minister Denys Shmyhal said that after the completion of the current IMF program in the summer of 2022, Ukraine intends to continue cooperating with the IMF under a new program.

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