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Ukraine president, IMF's Georgieva discuss steps to unlock loans

KYIV, Nov 17 (Reuters) - Ukrainian President Volodymyr Zelenskiy discussed with the International Monetary Fund Managing Director Kristalina Georgieva measures his government was taking to unlock IMF loans, Zelenskiy’s office said on Tuesday.

The Ukrainian government secured a new $5 billion loan deal with the IMF in June and received the first tranche worth $2.1 billion to fight a sharp economic slowdown caused by the coronavirus pandemic.

Ukraine expected two additional tranches of $700 million, each in the second half of the year, but the IMF has stalled on disbursing the money due to concerns over Ukraine’s performance in tackling corruption and passing reforms.

The statement said that the president had informed Georgieva during their phone conversation about Ukraine’s “move towards (2021) budget adoption, anticorruption agenda preservation and macroeconomic stability”.

“Out teams enjoy strong trust and work closely to finalise negotiations and welcome the IMF mission as soon as possible,” Zelenskiy said. (Reporting by Natalia Zinets; Editing by Sandra Maler)

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