A mission from the International Monetary Fund (IMF) has arrived in Ukraine to discuss the country’s economic policy and possibilities for a new financing program. The negotiations are led by Gavin Gray.
According to Permanent Representative of the IMF in Ukraine, Priscilla Toffano, the main topic of the discussions will be the government’s economic policy. Special attention will be given to fiscal and monetary policies, as well as structural measures aimed at strengthening governance, fighting corruption, and supporting economic growth. The meeting takes place in light of Ukraine’s request to the IMF for the launch of a new Extended Fund Facility (EFF) program.
Currently, Ukraine is under a 4-year Extended Fund Facility program totaling $15.6 billion, approved in March 2023. The program has already provided Ukraine with nine tranches, the latest of which, amounting to $500 million, was received on July 1, 2023. The next tranche of $1.6 billion is planned for December.
In September, the Ukrainian government approached the IMF for a new financing program. According to media estimates, the volume of this program could be $8 billion over three years. However, the aid from the IMF might be threatened by difficulties that arose in early November.
| Date | Event | Financing Amount |
|---|---|---|
| March 2023 | EFF Program Approval | $15.6 billion |
| July 1, 2023 | Ninth Tranche | $500 million |
| December 2023 | Tenth Tranche Planned | $1.6 billion |
