International Monetary Fund (IMF) specialists led by Gavin Gray have arrived in Kyiv to hold important meetings with representatives of the Ukrainian authorities. As reported by IMF Resident Representative in Ukraine Vahram Stepanyan, the discussions will focus on fiscal and budgetary plans.
"A team of IMF specialists led by Gavin Gray begins meetings in Kyiv today with representatives of the Ukrainian authorities and other partners. Discussions will focus on the authorities' fiscal and budgetary plans for the second half of this year and the medium-term perspective," the statement said.
The main purpose of the visit is to discuss strategies for financing and developing Ukraine's economy in times of war. The economic situation in the country remains difficult, so budget and tax issues are critical to ensuring financial stability.
Recall that Ukraine's agreement with the IMF on the Extended Fund Facility (EFF) for $15.6 billion was approved in March 2023. Since the signing of the program, Ukraine has already received five tranches totaling about $7.6 billion, including $900 million in March and the last tranche of $2.2 billion in July.
In 2024, Ukraine can expect two more tranches of $1.1 billion, scheduled for October and December. This support is part of the partners' commitments to provide Ukraine with $122 billion by 2027. At the same time, the IMF has also prepared a negative scenario for the Ukrainian economy in the event of a prolonged war, under which total financing could increase to $140.7 billion.
