IMF: agreement with Ukraine paves the way for financial support
An IMF mission was held February 13-17 to assess Ukraine's performance and advance the country's technical and policy discussions.
AP - Andrew Harnik
Text by: RFI Follow
1 min
An IMF mission was held February 13-17 to assess Ukraine's performance and advance the country's technical and policy discussions.
After meetings with the Ukrainian authorities, the IMF mission said that the two parties have reached an agreement - still to be approved by the IMF's management - which should allow financial support from the institution.
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“
The authorities' performance under the monitoring program has been strong
,” said IMF mission chief Gavin Gray.
All objectives have been achieved, he said.
Among them, the government's proposal of a set of tax bills aimed at increasing revenue, measures for the settlement of arrears, the development of a concept note for a social safety net, or the creation of the Supervisory Board of Naftogaz - the Ukrainian state-owned gas company which defaulted
last July.
► Also to listen:
Reconstruction of Ukraine: "The immediate needs are estimated at 9 billion dollars"
Needs estimated at several billion for this year
The IMF has already released emergency aid of 1.4 billion euros last year.
But “ large-scale
” external disbursements
will be essential, argued Gavin Gray.
The needs to run the Ukrainian state are estimated between 40 and 57 billion dollars for 2023.
Furthermore, “
a full-fledged IMF program would support the Ukrainian government's efforts to join the European Union
,” the IMF mission stressed.
Notably thanks to measures aimed at strengthening governance, the rule of law and the fight against corruption.
In the reconstruction process, improving the productivity and competitiveness of the private sector will also be essential.
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