The International Monetary Fund mission has begun its work in Kyiv, where it plans to stay for about a week. The start of the visit was announced by Vladyslav Rashkovan, the Executive Director of the IMF from Ukraine.
This is reported by Kyiv24
“We arrived in Kyiv with the IMF team late in the evening, and spent a bit of the morning in a bomb shelter. We are ready to work. Many meetings are scheduled.”
Ukraine’s Financial Needs and Development Scenarios
According to government estimates, Ukraine needs external financing of $45 billion to cover its budget deficit and service its external debt. This was previously stated by Finance Minister Serhiy Marchenko during the presentation of the government action program.
The basic macroeconomic scenario considered by the government anticipated the end of the war in 2025. However, Ukraine is currently guided by an alternative forecast, according to which hostilities may continue until the end of 2026.
EFF Program and International Support
As of now, Ukraine is receiving financial assistance under the EFF program from the IMF, which is designed for 48 months and provides access to approximately $15.5 billion. This program was approved on March 31, 2023, and is part of an international support package totaling $152.9 billion.