IMF Managing Director Christine Lagarde held a telephone conversation with President of Ukraine Petro Poroshenko. “I thanked President Petro Poroshenko for the close cooperation during his presidency, during which Ukraine successfully returned to macro-stability and growth, following the deep economic crisis of 2014–2015,” Lagarde said in a statement following the call on Friday, writes Ukrinform.
“We agreed that it is crucial to safeguard the important progress made during the President’s tenure in advancing key reforms, and especially to ensure the independence of the central bank and maintain the stability of the banking system,” the IMF managing director noted.
In addition, according to Lagarde, both parties agreed that much remains to be done to complete the transformation of Ukraine into a modern market economy that is firmly governed by the rule of law and that is able to attract the higher levels of investment needed to achieve stronger and sustainable growth, and for incomes to catch up with the levels seen in Ukraine’s regional peers.
“The Fund stands ready to continue to support Ukraine in these efforts,” Lagarde stressed.
As reported earlier, at the end of last year, the IMF Executive Board approved a 14-month Stand-By Arrangement (SBA) for Ukraine worth a total of $3.9 billion.