2024-09-18T11:26:00+03:00 World 2024-09-24T04:00:01+03:00

Ukrainian news

IMF postpones its mission to russia indefinitely

IMF postpones its mission to russia indefinitely

The International Monetary Fund (IMF) postpones its mission to russia indefinitely.

This was announced by the TASS agency with reference to the executive director for the russian federation at the IMF Aleksei Mozhin, Ukrainian News Agency reports.

"The management of the fund informed the russian side and the Board of Directors that the work of the mission will be postponed for an indefinite period. The reason for the postponement of the mission was the technical unreadiness of the mission to conduct consultations," Mozhin said.

On September 4, a message was published on the IMF's website that the fund's mission will visit russia to discuss "the country's economic development and politics.”

The IMF team was supposed to hold virtual discussions from September 16 and then travel to the country for face-to-face meetings.

As Ukrainian News Agency earlier reported, the IMF mission worked in Ukraine at the beginning of September.

The IMF may demand an additional increase in taxes along with VAT if there is a significant difference in revenues and expenditures in the 2025 state budget.

On March 31, 2023, the Board of Executive Directors of the International Monetary Fund approved a four-year program of expanded financing for Ukraine.

The program is implemented in two stages (war and post-war) and provides access to credit funds from the IMF in the amount of 11.6 billion SDRs (equivalent to USD 15.6 billion).

Tranches under the program are provided based on the results of reviewing.

In 2023, Ukraine received three tranches from the IMF for a total amount of SDR 3.3 billion (USD 4.5 billion).

This year, Ukraine has already received two tranches from the IMF in the amount of SDR 2,333.72 million (about USD 3.08 billion equivalent).

And in general, in 2024, the government will be able to receive four tranches from the IMF with a total volume of SDR 4 billion (USD 5.4 billion equivalent).