The mission of the International Monetary Fund (IMF), whose positive conclusions will start work on a new program with it, is expected to begin work in Ukraine next week, said the head of the National Bank of Ukraine, Andriy Pyshny.
“We expect the start of the IMF mission as early as next week. We hope to reach agreements on macroeconomic indicators, parameters of the state budget for 2023 and sources of covering its deficit, which will be the beginning of work on a new program with the Fund,” the press service of the National Bank quoted him as saying. .
Pyshny also thanked the IMF for providing $1.3 billion in additional emergency financing under the RFI instrument, which arrived in Ukraine on Thursday.
As reported, on the eve of the IMF Managing Director Kristalina Georgieva said that the Fund’s team, together with the Ukrainian team, immediately after the annual meeting of the IMF and the World Bank (WB) this week, will determine Ukraine’s macroeconomic framework and budget.
In addition, US Treasury Secretary Janet Yellen noted that a new full-fledged IMF program for Ukraine could be early next year.
Finance Minister Serhiy Marchenko said the government estimates the need to finance the state budget deficit in 2023 at $3.5 billion a month, compared to $5 billion a month in 2022, which Ukraine has so far failed to raise. The best indicator was August with $4.6 billion, and in general, since the beginning of the war, or almost eight months, external funding amounted to $20.7 billion, of which almost 50% were grant funds.
The draft state budget of Ukraine for 2023, which was adopted in the first reading, provides for external financing of the deficit in the amount of $38 billion, or about $3.2 billion per month.
