Ukraine must make more progress on reforms to unlock the next part of a $5 billion loan, the International Monetary Fund (IMF) representative in Kyiv said on Saturday, after what he described as productive talks.

“Discussions will continue,” Goesta Ljungman said in a statement.

Online negotiations with the IMF mission, which ran from late December to February 12, focused on strengthening governance of the central bank, improvements to the legislative and regulatory framework for bank supervision and resolution, policies to reduce the medium-term fiscal deficit, legislation restoring and strengthening the anti-corruption framework and the judiciary, as well as on energy policy, he said.

Following the IMF statement, Ukraine’s Prime Minister Denys Shmygal said the government would take into account recommendations suggested by the mission.

Ukraine expects to receive $2.2 billion spread across three equal tranches from the IMF in 2021, Central Bank Governor Kyrylo Shevchenko has told Reuters.

Published in The Express Tribune, February 14th, 2021.

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