The IMF’s decision from 8 December is of great importance for Ukraine, which is in a very difficult financial situation.
Over the past few months Kyiv has initiated a few major changes, but the delays in the reform process are growing.
The comprehensive reform of the gas sector is one of the most important and most difficult reforms Ukraine has to implement.
The agreement comes as a success for Ukraine since it removes the threat of the country defaulting in the forthcoming months.
One of the key challenges that Ukraine is facing is the scale of its foreign debt (both public and private).
The drop in Ukraine’s GDP by nearly 18% in the first three months of 2015 has confirmed the decline of the country’s economy.
Kyiv wants to put pressure on foreign lenders to agree to the restructuring and partial waiver of its debt.
The main reason for the decline in exports from Ukraine is the collapse of industrial production in the war-torn Donbas region.
The last few weeks of the new session of parliament, including in particular the work on the budget, show that the dividing lines within the ruling coalition.
Next to gas, coal is of key importance in the Ukrainian energy balance and in electricity production.