IMF representatives arrive in Kyiv to discuss budget and taxes
Photo: open sources
Delegates from the International Monetary Fund have arrived in the Ukrainian capital to hold discussions on budget and tax matters.
RBC-Ukraine reports this with reference to a statement made by Vahram Stepanyan, the permanent representative of the IMF in Ukraine.
"A team of IMF specialists led by Gavin Gray is starting meetings in Kyiv today with representatives of the Ukrainian authorities and other partners. The discussions will focus on the tax and budget plans of the authorities for the second half of the current year and the medium-term perspective," the statement said.
Rubryka recently wrote that the Board of Directors of the IMF completed the fourth review of the Enhanced Financing Program for Ukraine (EFF), deciding to allocate about 2.2 billion dollars to Ukraine.
The IMF noted that this is already the fourth review of the EFF program and noted that Ukraine's indicators remain high, despite difficult conditions.
"All quantitative performance criteria at the end of March were met, and all structural benchmarks by the end of June were met on time or with a short delay," the IMF said.
With a tranche of $2.2 billion, the total amount of payments under the program will reach about $7.6 billion.
It was also noted that fiscal policy for the remainder of 2024, as well as budget preparation for 2025, should be underpinned by revenue mobilization efforts aligned with the National Revenue Strategy.
For reference:
As reported, on March 31, 2023, the Board of Executive Directors of the IMF approved a four-year program within the framework of the Enhanced Financing Mechanism (EFF) for Ukraine in the amount of $15.6 billion.
Five tranches totaling about $7.6 billion have already been received under the program, including $900 million in March and the last $2.2 billion tranche in July from the $15.6 billion program.
Ukraine may receive two more tranches of $1.1 billion each (in October and December) in 2024.
As part of the program, Ukraine also received political commitments from partners to allocate $122 billion by 2027. At the same time, the IMF developed a negative scenario for Ukraine's economy in the event of a protracted war. In this case, Ukraine's total financing would increase to 140.7 billion dollars.
It should be noted that in October 2023, the International Monetary Fund opened a permanent representative office in the capital, which had been closed since the beginning of the full-scale war in Ukraine in 2022.
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