Ukraine, IMF launch discussions on fiscal reforms
This was announced by the Ministry of Finance on Facebook, Ukrinform saw.
The key topics are the implementation of the measures defined by the EFF until the next review, in particular, the implementation of fiscal structural reforms. In addition, the parties will consider the issue of restoring debt sustainability and the priorities of government reforms.
The Ministry of Finance noted that as of early September 2024, within the scope of the EFF, Ukraine has implemented 23 structural beacons out of 37 stipulated by the Memorandum with the IMF. Of these, 14 beacons are related to the fiscal sector.
"Since the full-scale invasion, the IMF has allocated for Ukraine $10.2 billion in budget aid, which is the third largest source of external financing after the EU and the US. We continue to systematically work with international partners to ensure macro-financial stability in wartime conditions. The Fund's assistance in this process is coordinating between donors, which contributes to mobilizing resources for Ukraine’s priority needs," said Minister of Finance Serhii Marchenko.
In turn, the head of the National Bank, Andriy Pishnyi, emphasized that "obligations reserved with the National Bank ahead of the fifth review (of the EFF - ed.) have been fulfilled almost in full, some even ahead of time."
"Within the scope of the mission, we will especially focus on the possibilities of stocking up domestic resources to cover state budget needs, which have increased due to the duration and intensity of war. This really not an easy task. We see that work on the domestic debt market will play a significant role in addressing it," said the head of the NBU.
The IMF mission will work in Ukraine from September 4 to September 10.
As Ukrinform reported earlier, on Wednesday, September 4, the mission of the International Monetary Fund kicked off negotiations with the Ukrainian authorities regarding the fifth review of the Extended Fund Facility (EFF) in the amount of $1.1 billion.
Photo: Ministry of Finance
