Ukraine and IMF begin negotiations on new financing program

The leaders of Ukraine's Ministry of Finance, the National Bank of Ukraine, and experts from the International Monetary Fund have started discussions on a new financial cooperation program.

The Ministry of Finance reported this on its website, according to Ukrinform.

It is noted that the negotiations focus on the key goals of the state's economic policy. In particular, this concerns fiscal and monetary policy aimed at maintaining macro-financial stability, as well as a set of structural reforms. Among the priorities are strengthening governance, combating corruption, and creating conditions for sustainable economic growth.

"We expect a week of productive discussions with IMF staff. The new program will help meet Ukraine's budgetary needs in the medium term and support the implementation of structural reforms aimed at economic recovery and European integration. I am grateful to the IMF for its continued support and expertise, which help strengthen Ukraine's economic and financial resilience," said  Sergii Marchenko, Minister of Finance of Ukraine.

As reported earlier, the IMF mission led by Gavin Gray began work in Ukraine on 17 November with government representatives on launching a new Extended Fund Facility (EFF) program.

Ukraine's State Budget has received nine tranches under the current IMF EFF program, totaling about $10.6 billion.

In September, the Ukrainian government officially requested the IMF to launch a new financing program.

Photo: Ministry of Finance of Ukraine