From March 8 to 15, 2023, representatives of the Ukrainian authorities and the International Monetary Fund (IMF) mission, led by Gavin Gray, held a series of discussions regarding the new Fund-supported program. The meetings took place in Warsaw (Poland) and online.
According to the results of discussions between the IMF experts and representatives of the Ministry of Finance of Ukraine, the National Bank of Ukraine, as well as other bodies responsible for policies in the field of economy, energy, fighting and preventing corruption, and the rule of law, significant progress has been made towards agreement on a set of policies that could become the basis of the new program.
“We are grateful to IMF experts for productive discussions. Currently, I positively assess the results of discussions between the IMF team and representatives of the Government of Ukraine. We are counting on the earliest possible start of the program,” said Minister of Finance of Ukraine Sergii Marchenko.
On February 17, 2023, representatives of Ukraine and the IMF reached a staff-level agreement on the review under the Program Monitoring with Board Involvement (PMB). According to experts who were part of the IMF mission, the PMB implementation showed high results. The Ukrainian side fulfilled all structural benchmarks agreed with the IMF under the PMB, all end-December quantitative and indicative targets were achieved.
The agreements reached, which still need to be approved by the IMF management, have opened the way for the start of discussions on a full-fledged program, supported by the IMF.