The Ministry of Finance announced an agreement with the IMF on the revision of the financing program
Ukraine and experts of the International Monetary Fund (IMF) reached an agreement on the sixth revision of the Extended Financing Program (EFF). About this reported Ministry of Finance of Ukraine.
“Representatives of the authorities of Ukraine and experts of the IMF reached an agreement at the expert level regarding the sixth revision of the program of the extended financing mechanism. The total volume of the program is about $15.6 billion for the years 2023-2027. The agreement must be approved by the executive board of directors of the IMF, which is expected to be considered in the coming weeks.”, the Ministry of Finance said in a statement.
The Ministry noted that negotiations with the IMF regarding the revision of the program lasted from November 11 to 18 in Kyiv. Ukraine has fulfilled the five structural beacons foreseen for the sixth revision of the program. In addition, another structural beacon in the field of energy was implemented ahead of schedule.
The Ministry detailed the list of completed structural tasks:
- adopted amendments to the Customs Code in accordance with international standards;
- an analysis of pre-war policies and practices in medium-term budget planning was carried out;
- an assessment of financial risks was carried out to ensure stability and action plans were developed for various scenarios;
- the financial condition of enterprises providing centralized heat supply was assessed;
- a state property management strategy, a dividend policy and a privatization plan were developed.
These achievements testify to Ukraine’s consistent implementation of its obligations within the framework of cooperation with the IMF.
