IMF mission to start negotiations on third review of Ukraine's program on February 17 in Warsaw - NBU
Kyiv • UNN
The IMF team headed by Uma Ramakrishnan has begun meetings in Kyiv with Ukrainian authorities to discuss the economic challenges facing Ukraine, and on February 17, the IMF mission will begin negotiations on the third review of the program for Ukraine in Warsaw
The IMF team spoke with the National Bank's leadership and other officials in Kyiv today, and on February 17 the Fund's mission will begin discussions with Ukrainian authorities in Warsaw in the context of the third revision of the IMF program for Ukraine, the NBU said on Monday, UNN reports.
Details
An IMF team led by Uma Ramakrishnan, Deputy Director of the IMF's European Department, began meetings in Kyiv with Ukrainian authorities and other partners.
"The discussions will focus on the goals of the economic policy of the Ukrainian authorities and the challenges facing the Ukrainian economy," the NBU said.
Today, the Fund's representatives, as indicated, spoke with National Bank Governor Andriy Pyshnyi, his first deputy Kateryna Rozhkova, and deputies Serhiy Nikolaychuk, Yuriy Heletiy, Oleksiy Shaban, and Yaroslav Matuzka.
On February 17, an IMF mission led by Gavin Gray will begin discussions with the Ukrainian authorities in Warsaw in the context of the third review of the IMF-supported Extended Fund Facility. The third review will focus on Ukraine's progress in fulfilling its commitments under the Memorandum of Economic and Financial Policies
According to the NBU, these include measures in the areas of fiscal, monetary, and foreign exchange policy, financial stability, and structural reforms for medium- and long-term economic growth.
The meetings will reportedly focus on the following issues: the situation in the country's financial sector, the state of the banking system, further implementation of the Strategy for the mitigation of currency restrictions, transition to greater exchange rate flexibility and return to inflation targeting, priorities of exchange rate and monetary policy. Also, the issue of further activation of domestic channels of financing the state budget of Ukraine, which, together with international financial assistance, will help to meet Ukraine's needs.
"As with the previous two reviews, we have prepared very carefully. The results of 2023 clearly demonstrated our ability to fulfill our mandate and keep the program with the IMF on track. The tasks of the current year will definitely not be easier, but we are taking a very pragmatic approach to the risk assessment process," said NBU Governor Andriy Pyshnyi.
