Ukraine will resort to issuance financing of the budget in 2023 only if there are no other sources of cost estimate coverage. This is stated in the letter of intent to the Memorandum of Credit Program with the IMF.
It is noted that the authorities undertake to cancel the issuance financing of the estimate and will resort to it in urgent cases.
"Given the risks of monetary financing for prices and external stability, we have successfully kept it at the expected level in 2022 (UAH 400 billion) and plan to abandon it in 2023," the document says.
At the same time, it is noted that in the event of a delay in external financing or the presence of unscheduled critical expenses, the authorities will seek internal resources for covering expenses, including government bonds, and only in extreme cases apply to the National Bank for financing and in tightly defined volumes.
At the same time, the letter expresses conviction about the continuation of external financial support for Ukraine.
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