IMF team to visit Ukraine next week: Bloomberg reveals purpose
Photo: IMF team to visit Ukraine next week (Getty Images)
The International Monetary Fund team will visit Ukraine next week. During the meeting with Ukrainian officials, they plan to review the budget prospects, according to Bloomberg.
The agency reports that the IMF team will meet with Ukrainian officials next week to review Ukraine's budget prospects.
During the trip, the IMF plans to decide whether to disburse the next $1.1 billion of the $15.6 billion assistance program.
According to one source, before the trip, IMF staff working with Ukraine will take part in an informal meeting with the fund's executive board to update them on the latest information on the loan to Ukraine.
IMF program
On March 31, 2023, Ukraine's EFF agreement was approved with access to $15.6 billion.
Under the program, Ukraine received political commitments from its partners to provide $122 billion by 2027. The IMF is expected to provide Ukraine with more than $5 billion in 2024.
Meanwhile, last month it became known that the IMF intends to reduce the fee for large borrowers, including Ukraine. As of early July this year, Ukraine owed the IMF SDR 10.5 billion, which equates to about $13.8 billion. Ukraine's debt is the second largest after Argentina.
