On November 14, a delegation from the IMF arrived in Ukraine to negotiate a new extended financing program with the government. IMF representative Paul Thomsen said discussions will focus on strengthening the banking sector and the independence of the Central Bank and consolidating progress in the financial sector. 

The IMF mission, led by Ron van Roden, arrived in Kiev to continue negotiations on a new financing program. Paul Thomsen, director of the IMF’s European affairs department, indicated that strengthening the country’s banking sector will be high on its agenda. “It is important to maintain the independence of the Central Bank, make progress in the financial sector and continue fiscal consolidation [because] Ukraine is not making good progress in structural reforms”. 

Nonetheless, according to sources from the Central Bank of Ukraine, the probability that Kiev will receive a new programme of funds in 2019 is “very high”. During October, the Ukrainian delegation discussed the new program with the IMF in Washington, but details of this have yet to emerge. The negotiations with the Fund are set to conclude later this year when the Ukrainian government will likely begin working on structural reforms for the banking sector to adopt the guidelines suggested by the IMF.