WASHINGTON – The head of the International Monetary Fund says an IMF fact-finding team in Ukraine will begin negotiations with authorities to develop an economic reform program that could lead to financial help from the lending organization.
Christine Lagarde said Thursday the team that went to Ukraine March 4 and normally would return to Washington to report to the IMF board will now remain until March 21.
She said the team will work with authorities in Kyiv to develop an economic reform program that will result in sound economic governance and sustained growth that can be approved by the IMF.
Ukraine’s finance ministry has said it needs $35 billion for this year and next to avoid default. The political turmoil since the end of last year has roiled the economy.