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IMF Sees 'Very Encouraging' Signs From Ukraine's New Government

The IMF says it is encouraged by signs from Ukraine's new government headed by Prime Minister Volodymyr Hroysman.

Early signs coming from Ukraine's new government are "very encouraging," a top International Monetary Fund official said on May 6.

Mahmood Pradhan, deputy head of the IMF's European department, delivered the Fund's first public endorsement of the new government in Kyiv following the departure of key Western-backed reformers last month.

The IMF suspended its $17.5 billion loan program for Ukraine when Kyiv's political crisis broke out and Pradhan told reporters in London it may resume the program soon.

"We think the signs of the new government's willingness to adhere to the program, to stay with the program, and their own adjustment efforts are very encouraging," he said.

"We hope the program will be on track and most importantly, the adjustment policies already implemented which are paying dividends and are working, will continue."

The IMF is due in Ukraine next week to formally review progress.

In another upbeat sign, the IMF's latest economic forecast for Ukraine has it eking out growth of 1.5 percent this year after a deep economic contraction of nearly 10 percent last year.

Based on reporting by Reuters and TASS