The International Monetary Fund (IMF) supports the decision of the National Bank of Ukraine (NBU) from October 3 to move from the hryvnia fixed exchange rate regime to its managed flexibility regime and believes that this will further support the economic stability and the foreign exchange market, deputy head of the IMF mission in Ukraine … Read more
The International Monetary Fund (IMF) continues to expect the restructuring of its external commercial debt, mainly represented by eurobond debt, and sees its role in developing the macro framework that such restructuring should comply with, said IMF Mission Chief for Ukraine Gavin Gray. In general terms, the goal should be to implement restructuring that is … Read more
President Volodymyr Zelenskyy has signed a law on amendments to the Tax Code of Ukraine regarding the peculiarities of taxation during martial law, the president’s press service reported on July 27. The corresponding information regarding the law has been posted on the website of Ukraine’s parliament, the Verkhovna Rada. The adopted law stipulates that from … Read more
The International Monetary Fund (IMF) has upgraded real Ukraine’s GDP growth for 2023 to a range of 1% to 3% against the previous range of -3%to +1%, although the outlook remains highly uncertain as the war continues, IMF’s envoy to Ukraine, Gavin Gray, said on May 30. “The Ukrainian economy has shown remarkable resilience – economic activity … Read more
The Verkhovna Rada of Ukraine supported at first reading government bill No. 8401 on the abolition of the 2% single tax and other benefits for entrepreneurs from July 1, 2023, which is one of the conditions for cooperation with the IMF and the delay of which caused concern. According to information on the parliament’s website, … Read more
The International Monetary Fund (IMF) plans to conduct the first review of the Extended Fund Facility (EFF) program for Ukraine in the second half of May, IMF Director of Strategic Communications Julie Kozack told the Ukrinform news agency on May 11. According to Kozack, the work of the Fund’s representatives will focus on the fulfillment of Ukraine’s political commitments … Read more
Ukraine has immense recovery and reconstruction needs, and the World Bank estimates that there is an additional $11 billion funding gap in 2023 for critical expenditures, World Bank Group President David Malpass said on April 10. While opening the annual Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington D.C., Malpass … Read more
The negative scenario of a 10% decrease in Ukraine’s GDP in 2023 and a 2% decrease in 2024 set out in the Extended Fund Facility (EFF) program confirms the IMF’s readiness to support the country no matter what, National Bank of Ukraine Governor Andriy Pyshnyi told Interfax-Ukraine on April 5. “The program has been approved, even if … Read more
The Executive Board of the International Monetary Fund (IMF) has approved a four-year $15.6 billion financing program for Ukraine, which will allow Kyiv to meet its urgent financing needs amid Russia’s full-scale invasion, Reuters reported on March 31. Ukrainian PM Denys Shmyhal said that the country will receive the first tranche of more than $2.7 … Read more
Ukrainian and IMF officials have agreed on a draft for a $15.6 billion financial support program designed to last four years, the IMF said in a press release on March 21. The money will be spent on supporting Ukraine’s fiscal, external borrowing, price, and financial stability, and support its ongoing gradual economic recovery, while promoting … Read more