![]() The second phase would shift focus to more expansive reforms to entrench.The authorities are alsoĬommitted to continuing reforms to strengthen governance andĪnti-corruption frameworks, including through legislative changes. That might erode tax revenues will be avoided. Health and continuing to promote central bank independence. ![]() Stability, including by preparing a deeper assessment of the banking sector The program, will build on the PMB, to strengthen fiscal, external, priceĪnd financial stability by (i) bolstering revenue mobilization, (ii)Įliminating monetary financing and aiming at net positive financing fromĭomestic debt markets, and (iii) contributing to long-term financial The first phase, currently envisioned during the first 12-18 months of.Requested IMF-supported program envisions a two-phased approach: In view of the exceptionally high uncertainty, the Uncertainty, and strong financing assurances are expected from donors, In line with the new Fund's policy on lending under exceptionally high Toward EU accession in the post-war period. Restore debt sustainability, and support Ukraine’s recovery on the path “The overarching goals of the authorities’ program are to sustain economicĪnd financial stability in circumstances of exceptionally high uncertainty, On that basis, staff currently sees real GDP growth for 2023 High uncertainty is exceedingly challenging, as a range of outcomes are ![]() Developing a single baseline outlook scenario under exceptionally “A gradual economic recovery is expected over the coming quarters, asĪctivity recovers from the severe damage to critical infrastructure,Īlthough headwinds persist, including the risk of further escalation in theĬonflict. Program Monitoring with Board Involvement (PMB) ( Press Release 23/46). The authorities’ commitment to goodĮconomic management was also evidenced by the strong performance under the Macroeconomic and financial stability, thanks to substantial external The authorities have nevertheless managed to maintain Acute macroeconomicĬhallenges persist due to the scale of the shock and the expansion of theįiscal deficit. Ukraine continues to have a devastating impact on the economy: activityĬontracted by 30 percent in 2022, a large share of the capital stock hasīeen destroyed, and poverty levels have climbed. “In addition to the horrific humanitarian toll, Russia’s invasion of Support Ukraine and is expected to help mobilize large-scale concessionalįinancing from Ukraine’s international donors and partners over the “The staff-level agreement reflects the IMF’s continued commitment to IMF Executive Board, with Board consideration expected in the coming weeks. This agreement is subject to approval by the With access requested of SDR 11.6 billion (about US$15.6 billion), or 577 “I am pleased to announce that the IMF team has reached staff-levelĪgreement with the Ukrainian authorities on a 4-year IMF-supported program, Gavin Gray issued the following statement today: Subject to approval by the Executive Board, would be supported by the IMF Officials, during March 8-15, 2023, on a 4-year economic program that, Gavin Gray held discussions in Warsaw with Ukrainian The staff-level agreement reflects the IMF’s continued commitment to support Ukraine and is expected to help mobilize large-scale concessional financing from Ukraine’s international donors and partners.Īt the request of the Ukrainian authorities, an International Monetary Fund. ![]()
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