The international rating agency “Moody’s” does not expect the potential victory of Volodymyr Zelensky in the second round of the presidential election directly affect the economic or fiscal policy of Ukraine, as the prime minister and a number of ministers are appointed and accountable to the parliament.

The rating agency expects that reforms, in case of Zelensky’s presidency, especially the anti-corruption one, which is being held now in the country, will be largely continued, as was agreed with external partners.

At the same time, “Moody’s” admits that these incentives will significantly weaken if economic and financial conditions are normalized after the presidential and parliamentary elections, as dissatisfied demand is likely to stimulate private sector activity and political risks may decrease, which will re-open access to markets.

“Therefore, the IMF’s subsequent program is likely to appear only after a period of lengthy negotiations,” the rating agency forecasts.

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