IMF creates fund to support reforms in Ukraine

IMF creates fund to support reforms in Ukraine

The International Monetary Fund (IMF) established a Ukraine Capacity Development Fund, which had already received $14 million from donors.

The relevant statement was made by National Bank of Ukraine (NBU) Governor Andriy Pyshnyy on Facebook, an Ukrinform correspondent reports.

“The IMF has announced the launch of a Ukraine Capacity Development Fund. It will cover the needs of the implementation of a plan for the development of our country’s potential and successful reforms,” Pyshnyy wrote.

In his words, the two latest memoranda between Ukraine and the IMF focused on maintaining macroeconomic, external and financial stability in order to strengthen Ukraine’s capacity in its path towards victory.

According to Pyshnyy, in this regard, the key aspects are international financial assistance, Ukraine’s economic reforms, and strengthening the institutional capacity of government agencies. The important components of each of them are rhythmicity, timeliness and completeness. Reforms in Ukraine and capacity strengthening efforts should be continuous, uninterrupted, and involving the world’s best practices.

“The IMF once again confirmed its leadership in the process of mobilizing financial assistance for Ukraine. So far, donors have already allocated $14 million. The goal is to raise $65 million. I am grateful to the Fund, represented by Gita Gopinath, who noted our successes,” Pyshnyy added.

The NBU Governor also expressed gratitude to the Governments of the partner countries for their unwavering position and readiness to provide support for as long as it takes.

While citing and using any materials on the Internet, links to the website not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website and the website of a foreign media outlet. Materials marked as "Advertisement" or with a disclaimer reading "The material has been posted in accordance with Part 3 of Article 9 of the Law of Ukraine "On Advertising" No. 270/96-VR of July 3, 1996 and the Law of Ukraine "On the Media" No. 2849-Х of March 31, 2023 and on the basis of an agreement/invoice.

© 2015-2024 Ukrinform. All rights reserved.

Extended searchHide extended search
By period: