IMF mission has started work in Ukraine
On November 6, the mission of the International Monetary Fund (IMF) began work in Ukraine. Negotiations on the allocation of the third tranche of the loan under the extended financing program are planned. The Ukrainian team that will participate in the working meetings will include representatives of the National Bank of Ukraine, the Ministry of Finance, and other state bodies and institutions.
This was reported by the NBU press service, Censor.NET reports.
"From November 6, the mission of the International Monetary Fund begins its work for the purpose of consultations under Article IV of the IMF Agreement and conducting the second review of Ukraine's implementation of the Extended Fund Facility (EFF) program.
The mission will work in a hybrid format - offline and online. The Ukrainian team, which will participate in the working meetings directly in Warsaw and remotely from Kyiv, will include representatives of the National Bank of Ukraine, the Ministry of Finance, and other state bodies and institutions," the message reads.
During the second review of the EFF program, the status of Ukraine's fulfillment of its obligations under the Memorandum on Economic and Financial Policy will be discussed. These are, in particular, measures in the areas of fiscal and budgetary, monetary and currency policy, ensuring financial stability, as well as structural reforms for medium- and long-term economic growth.
It is noted that the main topics of the meeting will be the financial sector of Ukraine, as well as the results of the assessment of the stability of the banking sector, the implementation of the Strategy for easing currency restrictions, the transition to greater exchange rate flexibility and the return to inflation targeting. The results of the transition to the regime of managed flexibility of the exchange rate and the introduction of risk-oriented supervision in the financial sector will be discussed.
In addition, experts will dwell on the issue of sources of financing the deficit of the state budget of Ukraine, including international financial assistance and the domestic debt market.
"We are ready for a constructive analysis of the work done and a fruitful discussion about the next steps. The review will not be easy, but the Ukrainian team has been working harmoniously and efficiently for more than 20 months of full-scale war. We are clearly aware of the critical need to maintain the IMF's support not only for the further financing of budget needs but also in general for the development of our country and its European future," noted NBU Chairman Andriy Pishniy.
