Specialists of the International Monetary Fund (IMF) led by Gavin Gray arrived in Kyiv to hold important meetings with representatives of the Ukrainian authorities. As Vahram Stepanyan, the permanent representative of the IMF in Ukraine, said, the discussions will be focused on fiscal and budgetary plans.
"The team of IMF specialists led by Gavin Gray is starting today in Kyiv to meet with representatives of the Ukrainian authorities and other partners. Discussions will focus on the government's tax and budget plans for the second half of the current year and the medium-term perspective," the statement said.
The main purpose of the visit is to discuss financing strategies and the development of Ukraine's economy in wartime conditions. The economic situation in the country remains difficult, so budget and tax issues are critically important for ensuring financial stability.
We will remind that Ukraine's agreement with the IMF on the Enhanced Financing Program (EFF) in the amount of $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, which are planned for October and December. This support is part of the partners' commitment 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, in which the total financing may increase to 140.7 billion dollars.
