Before the election of the President of Ukraine will not give loans – economist

The administration of the President Poroshenko is not interested in further cooperation with the IMF, says economist Anders Aslund. Photo: UNIAN

Before the presidential elections to be held in 2019, the IMF or European Union will not give Ukraine loans.

This was said by a Swedish-American economist Anders Aslund in an interview with the “Economic truth”

On the question of what future will happen to the hryvnia, Aslund said, “the course depends on the cooperation of Ukraine with the International monetary Fund. It is obvious that the presidential Administration is not interested in further cooperation with the IMF.”

“And I wouldn’t expect the presidential election to be held in 2019, the IMF or the European Union will give Ukraine loans. Therefore, the national currency will remain weak,” says the economist.

“Now the volume of international reserves of Ukraine makes up $ 18 billion, but because of the small volume of imports these reserves are not enough,” he said.

“The Ukrainian government cares about their own enrichment, not the welfare of the population. The future of the hryvnia depends on the confidence in the government. If the leadership of the country there is no trust, it is likely that things will go too well. It’s hard to say how bad, but the disaster will not be”, – he concluded.

President Petro Poroshenko after a meeting with IMF head Christine Lagarde in Davos, said that Ukraine will continue cooperation with the Fund.