Ukraine will not receive new tranches from the IMF, while Zelensky’t make Kolomoisky to return the money – WSJ

Украина не получит новых траншей от МВФ, пока Зеленский не заставит Коломойского вернуть деньги - WSJ

The International monetary Fund has postponed the financial help to Ukraine because of concerns that President Vladimir Zelensky will not be able to repay the billions of dollars that were withdrawn from Ukrainian banks, including PrivatBank.

This was reported in The Wall Street Journal, citing sources close to talks between IMF and Ukraine.

It is noted that the IMF said Zelensky that he should more aggressively seek the return of funds withdrawn to fulfill his promise to clean up the financial system, undermined by fraud, money laundering and theft, according to the material.

“Among the challenges faced by Kiev support IMF — Igor Kolomoisky, a tycoon and a supporter Zelensky, who is under investigation in the United States. Kolomoisky and another businessman owned 45% of shares of Ukraine’s largest financial institutions, Privat, before its nationalization,” writes the WSJ.

According to the publication, the IMF is delaying the next tranche, until you are sure that the team Zelensky has made efforts to bring about $15 billion, derived from more than 100 banks, including PrivatBank, over the last decade.

“Kolomoisky, one of the richest people of Ukraine, actively supported Zelensky during his presidential campaign. Kolomoisky has returned to Ukraine from exile in may after Zelensky won the fight for the presidency, and has since been publicly met with the President. According to people familiar with the negotiations of the IMF with Ukraine, the IMF closely monitors their relations”, — writes the edition.

In turn, representatives of the NBU, said The Wall Street Journal that they are determined to alleviate the concerns of the IMF and to return the withdrawn funds.

“The IMF, however, sceptical of the story promises. Over the past two decades, Kiev has not fulfilled any one of a number of conditions for granting assistance packages of the IMF, and, according to reports from IMF, this is based on systemic corruption” — sums up edition.

Earlier it was reported that on Friday, November 1, the Ukrainian authorities have paid 66 million to the IMF SDR (special drawing rights “currency” for transactions with the IMF – Ed.). It is about $90,85 million

We will remind, earlier the national Bank has called the conditions of the IMF loan for Ukraine. Among them there is no growth in gas prices, but there are the sale of land.

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