Politics

Ukrainians take to streets to demand end to cooperation with IMF

Nearly 7,000-8,000 Ukrainians have taken to the streets of central Kyiv to demand an end to cooperation with the International Monetary Fund (IMF), Report informs, citing the Ukrainian media.

The protesters tried to go near the presidential office, where they were not allowed by the law-enforcement officers. Chanting the slogan that country “under the leadership of the IMF has completely fell into the trap of oligarchs,” they expressed dissatisfaction with the rise in prices and tariffs in the country, linking this precisely to the fund.

The pickets held posters, reading the Ukrainian authorities are asking the IMF for new loans, while the population of the country will have to repay them back.

A standby credit agreement between Ukraine and the IMF for $5 billion was approved in June 2020. The fund immediately allocated $2.1 billion to Kyiv, and the terms of the program for the remaining amount were also outlined. However, due to Kyiv’s failure to fulfill a number of obligations, the transfer of the funds was suspended.

Later, the country reached the required macro indicators, and in July 2021, 12 laws, stipulated in the memorandum with the fund, were adopted. In November, the IMF’s executive board decided to provide Kyiv with about $700 million based on the results of the first stand-by survey of the Ukrainian economy, and also to extend the program until the end of June 2022.

Xeberler

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