| 15 July 2024, Monday |

IMF team to begin meeting officials in Ukraine

The International Monetary Fund’s country representative in Ukraine, Vahram Stepanyan, said on Sunday that discussions with government officials and others in Ukraine will begin on Sunday to discuss policy goals and problems.

Ukraine’s economy has suffered significantly since Russia started a full-fledged invasion in February 2022, and the government has relied largely on Western funding to fund social and humanitarian payments.

The IMF said last week its mission had begun its second review of a $15.6 billion multi-year loan program for the country.

The four-year programme for Kyiv is part of a $115-billion global package to support the economy as Ukraine battles Russia’s invading forces.

“An IMF team, led by Uma Ramakrishnan, Deputy Director of the Fund’s European Department, starts meetings today in Kyiv with the Ukrainian authorities and other stakeholders,” Stepanyan said in a statement.

“The high-level engagement will focus on policy goals and challenges in the context of Ukraine’s program supported by the IMF Extended Fund Facility (EFF) Arrangement.”

The government in Kyiv has said that Ukrainian businesses have adjusted to the new wartime reality and that the economy has been recovering more quickly than expected this year.

  • Reuters