Will the IMF continue to support Ukraine? Expert's forecast

Ukraine will fulfill the basic requirements of the International Monetary Fund to receive financial assistance, said Andriy Novak, chairman of the Committee of Economists of Ukraine.

"I have no doubt that in September, when the IMF mission arrives in Ukraine, it will extend payments under the current program between Ukraine and the IMF totaling almost $16 billion, which is designed for 4 years. And Ukraine will receive the next tranche under this program before the end of this year," Novak said in an exclusive commentary to UNN.

He added that Ukraine fulfills all the requirements of the International Monetary Fund and our partners understand that in times of war, it is the state that bears the primary defense costs.

Among the requirements to be fulfilled by Ukraine are, in particular, amendments to the legislation in the spring of 2025 to develop an open competition procedure for the position of the Managing Director of the Deposit Guarantee Fund.

Recall

Earlier it became known that the Administrative Board of the Deposit Guarantee Fund dismissed Svitlana Rekrut from the position of Managing Director of the DGF due to the expiration of her 5-year contract. Currently, Olga Bilay, Rekrut's deputy, is acting as managing director. According to media reports, the Fund's administrative board plans to appoint a new manager in a closed session . Among the candidates are Bilay and Pavlo Polarush, head of the National Bank's Department for Work with Troubled Assets.

In an interview, Rekrut said that the IMF requires Ukraine to amend its legislation to hold an open competition for the position of the head of the DGF. Currently, there is no such procedure in the law. According to her, Kyiv has committed itself to developing and approving such a procedure in the spring of 2025. It is possible that Bilyi may remain acting managing director of the DGF until an open competition for this position is held.

Aid is under threat. Who may cause Ukraine to lose IMF fundingAug 8 2024, 09:18 AM • 152103 views

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Earlier, journalists found out that one of the candidates for the position of managing director of the DGF, Pavlo Polarush, had repeatedly traveled abroad after the start of the large-scale invasion. In particular, according to media reports, in November 2022, he received permission to leave the country from the odious former Deputy Minister of Defense, who is currently a suspect in corruption crimes. The permit was allegedly issued to Polarush to travel abroad in an elite Lexus car to receive humanitarian aid. However, it is not yet known on what grounds Polarush traveled abroad from February to November 2022.

Member of the Verkhovna Rada Committee on Transport and Infrastructure Mykola Velychkovych believes that law enforcement should investigate Polarush's travels abroad. And a member of the Verkhovna Rada Committee on National Security and Defense, Hennadiy Kasai , does not rule out that Polarush may have problems during the special vetting process as a candidate for the position of managing director of the Deposit Guarantee Fund.