The fund still expects the war in Ukraine to be over by the end of 2024, according to Gavin Gray, head of the IMF’s Ukraine mission.
The International Monetary Fund (IMF) board of directors on Thursday approved the third review of Ukraine’s $15.6 billion loan program and provided $880 million in budget support. This is stated on the official page of the fund.
Kiev reportedly met all four requirements of the third revision. We are talking about the adoption of the national income strategy, the development of the road map for managing public investments, the development of measures for the mobilization of state budget revenues in 2024, and the adoption of laws aimed at strengthening the institutional autonomy and effectiveness of the Specialized Anti-Protection Agency. -Corruption Prosecutor’s Office (SAP).
“Each of the structural signs is a stabilizing factor that allows maintaining the stability of Ukraine’s financial system despite the war,” said Ukrainian Finance Minister Sergei Marchenko.
Important
As Reuters noted, Ukraine’s head of IMF mission Gavin Gray told reporters that Kiev’s overall performance under the expanded financing program with the IMF remained high in the first year of implementation.
He noted that Ukraine meets all quantitative performance criteria except for the tax revenue item, but we are talking about “a very insignificant amount.”
Gray also emphasized that the fund expects the war in Ukraine to end by the end of 2024.
Although the Ukrainian economy showed to be more resilient than expected in 2023, growth rates are expected to slow to 3-4% in 2024 due to uncertainty caused by the war, the publication said.
Let’s remember, on January 12, IMF Communications Director Julie Kozak said that Ukraine’s state budget deficit in 2024 will still be quite large.
In response, IMF Managing Director Kristalina Georgieva stated on February 13 that the situation of the Russian economy is gradually deteriorating, despite Russian President Vladimir Putin’s subordinates trying to convince the international community and people otherwise.
Source: Focus
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