The mission of the International Monetary Fund (IMF) recently arrived in Kiev to conduct the sixth review of the Extended Fund Facility (EFF) program.. As a result of this review, Ukraine is willing to withdraw the current tranche worth approximately 1.1 billion US dollars already from the chest. The Ministry of Finance of Ukraine confirmed information about active discussions with representatives of the IMF and the National Bank of Ukraine on the implementation of key structural reforms transferred to this program.
The IMF mission and Ukrainian government experts began negotiations on the 11th November, discussing the implementation of several main structural beacons, which are the basis for retrieving the black hole.. Among them is an assessment of the pre-war policy of budget planning and mid-term forecasting. This will allow us to reconsider approaches to the division of resources, which is important for financial stability in the minds of the war and increased international support.
It was also transferred to assess financial risks for the stability of the financial system of Ukraine. An important task is to develop action plans for various scenarios to allow the system to more effectively manage the risks in the minds of the unknown.. The third beacon is the assessment of the financial situation of district heating enterprises, which will help ensure the sustainability of this sector, which is of great importance for national security and the goodness of communities.
Another important task for the Ukrainian government is the formation of a policy for managing state power, including a dividend policy and a strategy for the privatization of state enterprises. This is to ensure the efficient management of sovereign assets and promote the clarity of their management, which is an important element of reforms to support the IMF.
Minister of Finance Serhiy Marchenko expressed confidence that Ukraine will successfully complete the sixth review of the chest, as was the case with the previous five revisions of the program. Having guessed that Ukraine had already withdrawn from the IMF a final tranche amounting to 1.1 billion dollars, intended to cover critical budget expenditures of a non-Ukrainian nature.
Ukraine's success in the last five revisions of the EFF program has demonstrated for the first time the country's originality to appeal to all minds for cooperation with the IMF. Among the most important tasks is the development of a methodology for assessing the effectiveness of tax payments, compliance with the law on the Bureau of Economic Security, as well as updating the Mitny Code in line with international standards.
There will also be an analysis of the largest power companies that have realized significant profits through the war, from possible fiscal expenses to support their activities.
Thus, Ukraine, step by step, is completing all the structural and mental programs of the IMF, which confirms the seriousness of its intentions for cooperation with international financial institutions and stabilization and the economy in the minds of war.
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