The mission of the International Monetary Fund has started technical discussions with the authorities of Ukraine regarding fiscal and budgetary, and other measures for the 2nd revision of the EFF program.
This follows from a statement by the IMF with reference to Vahram Stepanyan, the permanent representative of the IMF to Ukraine, the Ukrainian News agency reports.
"The IMF mission led by Gavin Gray is starting today technical discussions with representatives of the Ukrainian authorities regarding the latest economic developments and with the aim of discussing fiscal, budgetary, financial, and structural measures in the context of preparations for the 2023 consultations under Article IV of the IMF Agreements and for the second review of the program of the extended financing (EFF)", Stepanyan's press service quotes.
Other details are not reported.
As the Ukrainian News agency earlier reported, on June 29, 2023, the IMF Board of Directors completed the first review of the Enhanced Financing Program for Ukraine (EFF).
The review noted the significant progress of the Government of Ukraine in fulfilling its obligations under the EFF program.
Ukraine fulfilled all relevant quantitative performance criteria for April and structural benchmarks as of the end of June.
Ukraine has already received USD 3.59 billion from the IMF.
The total funding under the program is USD 15.6 billion (SDR 11.6 billion).
On September 15, the Cabinet of Ministers submitted to the Verkhovna Rada the draft state budget for 2024 with revenues of UAH 1.746 trillion, expenditures of UAH 3.309 trillion, and a deficit of UAH 1.594 trillion or 20.4% of GDP.
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