Finance Ministry to discuss full-fledged IMF program in coming weeks

That’s according to the press service of the Finance Ministry, Ukrinform reports.

"To cover the budget deficit in 2023, Ukraine is counting on the financial support of international partners, including the IMF. Ukraine has performed all the structural benchmarks agreed with the IMF under the Program Monitoring with Board Invvement and expects to start discussions on a full-fledged financial program with the support of the IMF in the coming weeks," Ukrainian Finance Minister Serh Marchenko td CNN.

According to the minister, in 2023, the state budget deficit will reach $38 billion. Although the Eurean Union and United States have already confirmed their intention to provide Ukraine with EUR 18 billion and $9.9 billion this year, a gap remains at around $10 billion.

Marchenko noted that wartime bonds remain an important source of funds in times of war.

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"A week after the full-scale invasion of russia, the Ministry of Finance held the first auction for the issue of Wartime Bonds. Since March 1, 2022, we have attracted over USD 6 billion to the State Budget," Marchenko added.

The finance minister emphasized that, in addition to budgetary needs, Ukraine requires about $17 billion to implement priority reconstruction measures in 2023.

As reported by Ukrinform, IMF Managing Director Kristalina Georgieva paid a visit to Ukraine. She highly praised the efforts of the Ukrainian government and all institutions that continue to erate despite the full-scale invasion.

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Prime Minister Denys Shmyhal met with Georgieva and the IMF team, announcing that Ukraine expects to launch a new program worth more than $15 billion. It is planned that the IMF program will consist of two parts: immediate financial support and support for structural reforms that will promote recovery.