On November 6, the mission of the International Monetary Fund began its work for consultations under Article IV of the IMF Agreement and the second revision of Ukraine's implementation of the Extended Fund Facility (EFF) program.
This follows from a statement by the National Bank of Ukraine (NBU), the Ukrainian News agency reports.
The mission will work in a hybrid format - offline and online.
The Ukrainian team, which will participate in the working meetings directly in Warsaw and remotely from Kyiv, will include representatives of the NBU, the Ministry of Finance, and other state bodies and institutions.
During the second revision of the EFF program, the status of Ukraine's fulfillment of its obligations under the Memorandum on Economic and Financial Policy will be discussed.
These are, in particular, measures in the areas of fiscal and budgetary, monetary and currency policy, ensuring financial stability, as well as structural reforms for medium- and long-term economic growth.
The focus of the meetings, in particular, will be the situation in the country's financial sector, the results of the assessment of the stability of the banking sector, the implementation of the Strategy for the easing of currency restrictions, the transition to greater exchange rate flexibility and the return to inflation targeting.
The results of the transition to the regime of managed flexibility of the exchange rate and the introduction of risk-oriented supervision in the financial sector will be discussed.
In addition, experts will dwell on the issue of sources of financing the deficit of the state budget of Ukraine, including international financial assistance and the domestic debt market.
On September 25, the mission of the IMF began technical discussions with the authorities of Ukraine regarding fiscal and budgetary and other measures for the 2nd revision of the Enhanced Financing Program (EFF).
On October 1, the foundation's delegation arrived in Ukraine.
As reported by Ukrainian News Agency, on June 29, 2023, the IMF Board of Directors completed the first revision of the Enhanced Financing Program for Ukraine (EFF).
The revision 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.
Total funding under the program is USD 15.6 billion (11.6 billion in Special Drawing Rights).
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