NBU Governor announces intensive technical consultations on design, parameters of new program after IMF mission

In the coming weeks, intensive consultations at the technical level will be held between the teams of Ukraine and the International Monetary Fund (IMF) to maximally detail the vision of the design and parameters of the new program, Governor of the National Bank of Ukraine Andriy Pyshnyy said in connection with the completion of the work of the Fund's mission in Kyiv, which lasted from September 3.

"Ahead of us lies a path of painstaking analytical work, deep and lively expert discussions, the search for optimal solutions and balances," he wrote on Facebook on Wednesday.

According to Pyshnyy, the week of the IMF mission's working visit to Kyiv was full of a number of important expert meetings, during which the parties discussed the macroeconomic situation, the state of the financial sector, the implementation of structural reforms, and Ukraine's financial needs for the coming years.

"We focused separately on the interim results of the implementation of the current EFF program and the prospects for launching a new program for further support to Ukraine. Prime Minister of Ukraine Yulia Svyrydenko handed over a letter to Head of Mission Gavin Gray with a request for a new cooperation program, taking into account the continuation of the war and changing assumptions regarding the conditions for the functioning of the economy in the coming years," the governor of the National Bank summed up the current results of the work.

He added that the Ukrainian side is also beginning to prepare for participation in the Annual Meetings of the IMF and the World Bank in Washington on October 13-18, during which the dialogue with partners on sustainable support for Ukraine will be continued.

Pyshnyy emphasized that the IMF program has been and remains a key platform for consolidating partner support, and Ukraine continues to count on the Fund's exceptional leadership and successful partnership to maintain macro-financial stability on Ukraine's path to peace.

As reported, at the end of March 2023, the IMF approved a four-year EFF extended financing program for Ukraine with a total amount of $15.6 billion. At the end of June this year, following the results of its 8th review, the 9th and 10th reviews, respectively, at the end of August and early December this year, were combined into one 9th review, which is currently scheduled for the fourth quarter of 2025.