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IMF Board to consider on March 20 provision of $1bn to Ukraine

Staff Writer |
The Executive Board of the International Monetary Fund (IMF) will meet for the third revision of the cooperation program with Ukraine on March 20, Director of IMF Communications Department Gerry Rice said.

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"The meeting of the Executive Board is scheduled for March 20," he said during a traditional briefing in Washington.

Rice also confirmed the visit of Ukrainian Finance Minister Oleksandr Danyliuk to the Fund this week. During his trip to the minister met with IMF First Deputy Managing Director David Lipton, and other representatives of the staff to discuss the further policies towards Ukraine.

"The whole point of the program is to assist the Ukrainian government and people to meet the severe situation that you have described and to help Ukraine back to sustainable and inclusive growth," Rice said.

As for the pension reform, the IMF thinks that the pension reform is crucial to ensure the sustainability of the pension system and to be able to provide better pensions for retired people and for those most in need.

"And I think the authorities agree on the need for comprehensive pension reform and so we are working together with them on designing the appropriate pension system," Rice added

For his part, the Ukrainian Finance Ministry said on its website on Thursday that the memorandum on economic and financial policy of Ukraine will be published after the IMF Board meeting.

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