International Monetary Fund Managing Director Kristalina Georgieva is preparing a new visit to Ukraine. In Kyiv, she plans meetings with government officials to discuss another credit package to support the Ukrainian economy.
This is reported by Bloomberg.
Georgieva last visited the Ukrainian capital in February 2023, almost a year after the start of the full-scale russian invasion. Now, in the fourth year of the war, her visit is aimed at reaffirming Kyiv's support and strengthening Ukraine's position in negotiations on a new financial package.
The Ukrainian government is seeking a second tranche of aid after successfully implementing most of the IMF program for USD 15.6 billion, approved in 2023. According to preliminary estimates, the new package could reach about USD 8 billion. Negotiations are planned to begin in November.
"Our staff continue to engage actively with the Ukrainian authorities on macroeconomic policies aimed at supporting stability, financing necessary spending, and restoring debt sustainability, with a view to further support from the IMF," the fund said.
The previous lending program was unprecedented for the IMF, as its rules typically prohibit financial assistance to countries at war. It was made possible only thanks to guarantees from the G7 countries, which agreed to cover potential risks on Ukrainian debt.
Georgieva's new visit, which coincided with the approval of the first program two years ago, is seen as a signal of support for further financing for the reconstruction of Ukraine's economy and infrastructure.
The negotiations are expected to be difficult. The fund will insist on guarantees from Ukraine's allies to use some of the frozen assets of the russian Central Bank to cover future assistance needs, which Kyiv estimates could reach about USD 65 billion by 2027.
During the September UN General Assembly, Georgieva already met with President Volodymyr Zelenskyy, discussing financial support for Ukraine.
National Bank Governor Andrii Pyshnyi stressed that a new cooperation program with the IMF is necessary to ensure stable receipts of external financing in times of war.
As Ukrainian News Agency earlier reported, Hetmantsev previously reported that the International Monetary Fund will demand that Ukraine's economy be de-shadowed.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.