Ukraine’s Finance Minister, Natalie Jaresko has said the International Monetary Fund has agreed the state budget for this year. 

In addition, the IMF has agreed the aims of the program of reforms with the Ukrainian government.

At the end of December the two parties had been in negotiations regarding a draft budget with a sticking point coming from a new edition of the tax code.

Jaresko was quoted as saying, “During the consideration of the draft budget in the Verkhovna Rada, the deputies, firstly introduced a number of changes that had not been agreed upon with the IMF, and secondly, they refused to support the new tax code, which was endorsed by the President at the National Council of Reform and that formed the basis of the draft state budget, which the Ministry of Finance had agreed with the IMF.”

Ukraine’s troubled economy is currently going through an IMF led bailout program, involving vast economic and social reforms.