IMF’s Ukraine mission starting its work in Vienna

An NBU team led by Governor Andriy Pyshnyy will take part in work meetings with the mission experts. The participants will discuss the current standing of Ukraine’s economy, macroeconomic forecasts, the state budget for 2023, and sources for financing the budget deficit, the NBU posted on Facebook.

“We are committed to actively cooperate with the Fund’s experts. We hope that the mission will be effective and that it will identify the parameters for launching a Program with Monitoring by the IMF Board which will provide the basis for full-fledged IMF program,” NBU Governor Andriy Pyshnyy emphasized.

The National Bank notes that the IMF has been supporting Ukraine since the breakout of the full-scale invasion. In March 2022, Ukraine received USD 1.4 billion in aid within the Rapid Financing Instrument (RFI). In October, the IMF provided USD 1.3 billion in additional assistance under the RFI’s food shock window to help countries survive the food crisis triggered by Russia’s full-scale war on Ukraine.

“The new program comes as an important stage in Ukraine’s cooperation with the IMF, and a signal to other partners to send us more aid,” the statement reads.

As reported, on October 11, Ukraine and the International Monetary Fund discussed the possibility of a new loan program to ensure priority expenditures of the state budget in 2023.

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