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 Abromavicius: IMF “very surprised” with Ukraine’s fulfillment of obligations

The International Monetary Fund management was surprised with the progress of the reforms in Ukraine and the government's efforts to fulfill the terms of the Fund's loan program.

Minister of Economy of Ukraine Aivaras Abromavicius said on Monday in Washington, Censor.NET reports citing Ukrinform.

"We discussed with the IMF the progress of reforms (in Ukraine - Ed.): what problems are there; what kind of support is required; and so on," the Minister of Economy told about his previous meeting with the management of the Fund.

Answering the question whether the IMF is satisfied with the progress of the implementation of the program on the part of Ukraine, the minister stressed: "I think they are very surprised that we do not just promise but fulfill (obligations - Ed.), which is confirmed by the first tranche we have recently received."

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He also expressed confidence that the Fund will continue to support Ukraine, "because we, together with this government, with this parliament prove that we keep our word and fulfill our obligations."

As for the process of debt restructuring which is one of the prerequisites for obtaining the next tranche of the IMF, Abromavicius noted that the negotiations are under way while the Finance Minister has determined the terms and all parties are aware of this. In this regard, he expressed hope for the affirmative approach of the creditors.

The Economy Minister also said that Ukraine has engaged Lazard, the world's best expert in the sovereign bonds restructuring, for consultations. "Therefore, I am confident that we will achieve the expected result," Abromavicius summed up.

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