Negotiations took place in Kyiv between the National Bank of Ukraine (NBU), the Ministry of Finance and representatives of the International Monetary Fund (IMF) within the framework of the fifth revision of the extended financing program. About this reported Head of the NBU Andriy Pishnyi.
Together with the Minister of Finance Serhiy Marchenko, Pyshnyi held a meeting with the head of the IMF mission in Ukraine, Gavin Gray, his deputies and the permanent representative of the Fund, Prishila Tofano. As Pyshnyi noted, the National Bank fulfilled most of its obligations before the fifth review, and some even ahead of time.
The main topic of the negotiations was the search for internal resources to finance the state budget, in particular in connection with prolonged military operations. Pyshnyi emphasized that this task is difficult and will require active work on the domestic debt market.
“We are sure that we will conduct the review responsibly, looking for the most effective solutions”, – noted the chairman of the NBU.
Maintaining a sufficient level of international reserves and preserving macro-financial stability remain key topics. Monetary and fiscal policy measures aimed at stabilizing the economy will also be discussed. One of the possible solutions, according to Pyshnyi, is a financial instrument secured by future income from immobilized Russian assets, which can provide additional resources as early as 2025.
In addition, the NBU team will hold additional discussions with IMF representatives regarding updating the macroeconomic forecast and reforming the financial sector. The IMF mission will work in Ukraine during the week.
