19 July 2024, Friday, 18:35 458

IMF mission completes its work in Ukraine

Editor: Tetiana Herasimova

Читати українською

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The mission of the International Monetary Fund has completed its work in Ukraine.

This is stated in the message of the Ministry of Finance, the Ukrainian News agency reports.

Today, the leadership of the Ministry of Finance of Ukraine and representatives of the International Monetary Fund held the final meeting of the IMF mission.

The mission took place in Kyiv during July 16-19.

The teams of the Ministry of Finance led by the Minister of Finance of Ukraine Serhii Marchenko and the IMF Mission in Ukraine led by Gavin Gray discussed the preparation for the fifth revision of the Extended Fund Facility (EFF) program and reform measures to strengthen the financial capacity of Ukraine.

"The Government of Ukraine, the National Bank and other authorities have already implemented 23 structural beacons out of 37 provided for by the Memorandum with the IMF as of today. 14 implemented beacons related to the fiscal sector. Ukraine's fulfillment of the conditions contributes to the preservation of macro-financial stability and paves the way for the country's European integration. The financial system adapts to functioning in conditions of uncertainty. The fifth viewing of the program is ahead," said Serhii Marchenko.

The IMF mission for the fifth review of the EFF program will start in September.

If the revision is successful, Ukraine will receive the next tranche from the Fund in the amount of about USD 1.1 billion.

Among the conditions is one structural beacon regarding the adoption of the updated law on the Bureau of Economic Security.

As the Ukrainian News agency earlier reported, in June, the IMF Board of Directors completed the fourth review of the Extended Fund Facility program for Ukraine (EFF) and decided to provide about USD 2.2 billion in budget support for Ukraine.

With a tranche of USD 2.2 billion, the total amount of payments under the program is about USD 7.6 billion.

The EFF program for Ukraine for a period of 48 months with access to SDR 11.6 billion (equivalent to USD 15.6 billion) was approved on March 31, 2023.