IMF representatives arrive in Kyiv: Details of discussion revealed
IMF sends representatives to Kyiv for talks (Getty Images)
Representatives of the International Monetary Fund have arrived in Kyiv. Discussions will focus on Ukraine's economic policy and the challenges facing the economy, according to Vagram Stepanyan, IMF Resident Representative.
"The IMF team, led by Umа Ramakrishnan, Deputy Director of the IMF's European Department, begins meetings today in Kyiv with representatives of the Ukrainian government and other partners," the statement said.
According to him, discussions will focus on the goals of Ukraine's economic policy and the challenges facing the Ukrainian economy.
The IMF team will also participate on February 13 in the inaugural meeting of the steering committee of the Fund for the Development of Ukraine's Potential, administered by the IMF. At this meeting, representatives of the Ukrainian government, development partners, and IMF experts will discuss "priorities for strengthening Ukraine's capabilities and IMF support for this important task."
Following these meetings, on February 17, an IMF mission led by Gavin Gray will begin discussions with representatives of the Ukrainian government in Warsaw in the context of the third review of the Extended Fund Facility program supported by the IMF.
IMF program
Ukraine is preparing a plan that includes expanding domestic bond sales, raising taxes, and cutting spending. This is necessary to receive funds from the International Monetary Fund if crucial U.S. assistance remains blocked.
NBU Governor Andrii Pyshnyi last week met with IMF Managing Director Kristalina Georgieva and discussed preparations for the February mission to conduct the third review of the EFF program. Pyshnyi said Ukraine is considering various scenarios to maintain macrofinancial stability under any conditions.
Ukraine has received political commitments from partners to provide $122 billion by 2027. It is expected that the IMF will provide Ukraine with approximately $5 billion in 2024. However, the tranche of $900 million in March may be in question due to the US's failure to fulfill its commitments.
