IMF consulting with Ukraine’s donors to obtain financing assurances for new program

This was stated on Thursday in Washington by Julie Kozak, Director of the IMF Communications Department, in response to a question from a Ukrinform correspondent, amid active discussions around the new program.

"Any new arrangement will require an agreement on the policy measures that the authorities will take, as well as sufficient financing… And in the case of Ukraine, we're also having discussions with Ukraine's partners and donors, and we will need financing assurances as well for the new program," Kozak noted.

She explained that once these steps are completed, and the IMF reaches a staff-level agreement with Ukraine and secures funding guarantees, "at that point, we can then present the program to our Executive Board for approval."

Kozak also emphasized that active engagement between the Fund and Ukrainian authorities is ongoing at all levels. She referenced the recent meeting in New York between Ukrainian President Volodymyr Zelensky and IMF Managing Director Kristalina Georgieva last week.

"They did discuss Ukraine's current economic situation, the authorities reform agenda, as well as the IMF's ongoing commitment to continue to support Ukraine," the IMF representative said.

In addition, she noted that the new program and its conditions are expected to be discussed with the Ukrainian delegation in Washington during the IMF and World Bank meetings on October 13–18.

As Ukrinform reported, on September 9, the Ukrainian government officially requested the IMF to launch a new financing program.