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Ukraine proposes intensification of joint IMF programme

UKRAINE’S government proposed the intensification of joint work with the International Monetary Fund on a new joint programme of co-operation today.

Prime Minister Denys Shmyhal said that he had discussed the possibility with the director of the global body’s European Department.  

“I spoke about this document in a conversation with Alfred Kammer,” he said as he seeks to strengthen the Ukrainian economy. 

“Ukraine and the IMF have a long history of relations. We count on the strengthening of co-operation," Mr Shmyhal said.

National Bank of Ukraine governor Kyrylo Shevchenko previously expressed support for the joint IMF programme that he expects to have a budget ranging from $15 billion to $20 billion.

According to Ukrainian Finance Minister Serhiy Marchenko, Ukraine has been handed some $12.7 billion in foreign support since February and is holding negotiations on another $14 billion.

Mr Marchenko expects to receive $6 billion later this month and a further $4.7 billion in September.

He said the “subsequent months will depend on the outcome of negotiations with our partners and the IMF.”

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