The work of the Fund’s current mission should lay the foundation for a full-fledged lending program, which Kyiv hopes for.
Ukraine hopes to launch a full financing program with the International Monetary Fund in 2023. This was stated by the Deputy Head of the National Bank Sergei Nikolaychuk in an interview with RBC-Ukraine, published on November 15.
The basis of the discussion on the launch of the lending program will be the results of the monitoring program, which is expected to be reviewed early next year.
“The monitoring program should lay the foundation for our macroeconomic policy and the foundation for obtaining funding from other international partners. And this monitoring program should also be a transitional bridge to a full program with IMF, which will provide funds,” Nikolaychuk said.
As part of the new program, the IMF will monitor quantitative parameters and performance indicators similar to what Ukraine traditionally has in stand-by and extended financing programs, the deputy head of the NBU specified.
“We hope that the first evaluation of this monitoring program at the beginning of next year will be the basis for discussions on the launch of a fully funded program,” he stressed.
Nikolaychuk added that the parameters of the future program are standard for countries supported by the Fund. At the same time, it is not very important to talk about the amount of IMF financing.
“It is more important for us that the program gives our international partners a certain level of trust, comfort and allows us to attract a greater amount from them, which is necessary, among other things, to receive $ 38 billion, which is included in the budget in the form of external financing,” the deputy head summed up. NBU.
It will be remembered that on November 11, the IMF mission started working with representatives of Ukraine online. Its results should form the basis of the expanded funding program expected by Kyiv.
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