IMF to continue new-loan talks with Ukraine in coming weeks

The International Monetary Fund said on Saturday it will continue talks with Ukraine about a new support program in coming weeks following significant progress in discussions so far with Kiev.

An IMF mission has been in Ukraine for a week as part of talks between Kiev and the fund to replace a $3.9 billion stand-by arrangement that expires in January.

“The IMF staff team had constructive and productive discussions with the Ukrainian authorities and commended them on the considerable progress made during the last few months in advancing reforms and continuing with sound economic policies,” it said in a statement.

Ukraine wants to secure an IMF deal worth around $5 billion-6 billion over three years to support its economy and signal to investors that the new government of President Volodymyr Zelenskiy is committed to reform.

“Discussions will continue in the coming weeks,” the IMF said.