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IMF Reaches Staff-Level Agreement with Ukraine
(MENAFN) The International Monetary Fund (IMF) announced on Wednesday that its staff has reached an agreement with Ukraine for a new 48-month program valued at $8.2 billion.
According to the fund, an IMF delegation met with Ukrainian officials from November 17 to 21 at the request of Ukraine to discuss the proposed program.
The IMF stated that its staff and Ukrainian authorities have come to a staff-level agreement on a collection of macroeconomic and structural policies that could be supported through a new 48-month arrangement under the Extended Fund Facility (EFF).
"Russia’s war continues to take a heavy toll on Ukraine’s people and its economy.
The authorities nevertheless remain steadfast in their resolve to maintain macroeconomic stability and to restore debt sustainability and external viability.
They are also committed to addressing informality, tackling corruption, and improving governance, including in the state-owned enterprise sector," the fund emphasized.
The IMF underscored its ongoing dedication to supporting Ukraine, noting that the new program could be presented to the IMF’s Executive Board for approval once prior conditions are met and sufficient donor financing assurances are secured.
"The IMF welcomes all efforts to secure a durable peace, and the program will be recalibrated as needed at each review depending on progress towards a resolution of the war," the fund concluded.
According to the fund, an IMF delegation met with Ukrainian officials from November 17 to 21 at the request of Ukraine to discuss the proposed program.
The IMF stated that its staff and Ukrainian authorities have come to a staff-level agreement on a collection of macroeconomic and structural policies that could be supported through a new 48-month arrangement under the Extended Fund Facility (EFF).
"Russia’s war continues to take a heavy toll on Ukraine’s people and its economy.
The authorities nevertheless remain steadfast in their resolve to maintain macroeconomic stability and to restore debt sustainability and external viability.
They are also committed to addressing informality, tackling corruption, and improving governance, including in the state-owned enterprise sector," the fund emphasized.
The IMF underscored its ongoing dedication to supporting Ukraine, noting that the new program could be presented to the IMF’s Executive Board for approval once prior conditions are met and sufficient donor financing assurances are secured.
"The IMF welcomes all efforts to secure a durable peace, and the program will be recalibrated as needed at each review depending on progress towards a resolution of the war," the fund concluded.
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