The IMF mission visited Ukraine for the first time in three years

The mission of the International Monetary Fund (IMF) visited Ukraine for the first time in more than three years — they discussed the steps needed to implement a four-year program worth $15.6 billion.

Prime Minister of Ukraine Denys Shmyhal informed about this on October 2.

Shmyhal talked about investment attraction, small and medium business support programs, public-private partnership. They also discussed joint work within the framework of the Multilateral Donor Coordination Platform.

The Ukrainian government informed the IMF about Ukraineʼs need for funds to cover the budget deficit and, separately, about the recovery needs.

• On March 31, 2023, the IMF Board of Executive Directors approved a new $15.6 billion program under the Enhanced Financing Facility (EFF). The program is part of the support package for Ukraine with a total cost of $115 billion, it is designed for 4 years and provides for 11 revisions (two revisions in 2023 — June 15 and October 13).
• The main goals of cooperation with the IMF are the stabilization of the Ukrainian financial system, the implementation of structural reforms and the creation of a foundation for sustainable economic growth. The fund helps Ukraine renew its financial capacity, suggesting how to most effectively implement the reform program.