International Monetary Fund reopens its permanent mission in Ukraine
The International Monetary Fund (IMF) has resumed its permanent mission in Kyiv.
Source: Kristalina Georgieva, IMF Managing Director, on Twitter.
"I am delighted to announce the reopening of the IMF Resident Representative Office in Kyiv as we further deepen our engagement with Ukraine," Georgieva wrote.
I am delighted to announce the reopening of the IMF Resident Representative Office in Kyiv, as we further deepen our engagement with Ukraine 🇺🇦.
— Kristalina Georgieva (@KGeorgieva) October 3, 2023
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In early reports, it is noted that the IMF team led by Uma Ramakrishnan, the Deputy Director of the fund's European department, arrived in Kyiv on 1 October and began meetings with representatives of the Ukrainian authorities and other key partners.
Background:
- It was reported that the mission of the International Monetary Fund (IMF) started technical discussions with representatives of Ukraine in Warsaw in the context of preparations for the second revision of the extended financing program (EFF) on 25 September.
- In June, the IMF board of directors completed the first review of the extended funding programme under the comprehensive funding mechanism (EFF) for Ukraine. Ukraine received about US$890 million, which will be allocated for budget support.
- In March, the IMF Executive Board approved a four-year funding package for Ukraine worth US$15.6 billion to help the country meet urgent financial needs amid the ongoing war. In total, this year, Ukraine will receive three tranches from the IMF, totalling SDR3.3 billion (US$4.5 billion).
- The International Monetary Fund published 19 structural beacons that Ukraine promised to fulfil under a US$15.6 billion cooperation programme.
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