VOA: Ukraine PM upbeat on IMF loan prospects

00:55, 16 November 2018
Economy
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Photo from UNIAN

Securing IMF assistance will also unlock loans from the World Bank and the European Union. Groysman also said Ukraine was in negotiations with Washington for a new loan guarantee for sovereign debt, Voice of America (VOA) reported.

Groysman negotiated a new deal with the IMF last month aimed at keeping finances on an even keel during a choppy election period next year. The new loans are contingent on his steering an IMF-compliant budget through parliament.

"This budget is a budget of stability and continuation of reforms," Groysman said in an interview with Reuters. "This is fully consistent with our IMF program."

"Yes. We are counting on a tranche in December," he added, when asked about when IMF loans were expected, though he did not elaborate on the possible size of the loan.

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Ukraine's government approved a draft budget in September but it will typically undergo a slew of amendments before parliament finally approves it.

Groysman said a proposal to change how companies are taxed – on withdrawn capital, rather than profits – had been dropped from the budget because of the IMF's concerns.

He also said he would not bow to opposition parties' demands to reverse a recent increase in household gas tariffs, a step that his government reluctantly took to qualify for more IMF assistance.

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