The International Monetary Fund and the Ukrainian authorities have reached an agreement at the staff level on a new program "

The agreement now needs to be approved by the IMF Board of Directors in the coming weeks.. The program under the agreement, as planned, will be aimed at supporting the fiscal, external, price and financial stability of Ukraine, as well as its gradual economic post-war recovery and entry into the European Union.

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At first, efforts will be focused on strengthening fiscal, external, price and financial stability through:.

increased revenue mobilization;

refusal to issue additional banknotes and net financing from the domestic debt market;

support for financial stability in the long term, including through a deeper assessment of the recovery of the banking sector and further support for the independence of the NBU.

The program will require our government to continue reforms, in particular, amending legislation to strengthen the management and anti-corruption foundations.

The first stage will last a year and a half and will be implemented on the basis of the Monitoring Program with the participation of the IMF Board of Directors.

Subsequently, the attention of the International Monetary Fund and the Ukrainian authorities should shift to larger-scale reforms in our state to consolidate macroeconomic stability, ensure the recovery of the country, strengthen its stability, as well as rapid and constant economic growth..

" Whereas fiscal policy will focus on critical structural reforms that should ensure adequate revenue levels over the medium term through the implementation of the National Revenue Strategy, together with public financial and investment management reforms to support the post-war recovery. Tougher competition in the critical energy market and a simultaneous reduction in quasi-fiscal obligations will complement post-war efforts to implement reforms,” the NBU explained..

complemented.