Ukraine will negotiate a full-fledged program with the IMF.

Ukraine expects to complete its monitoring program with the involvement of the IMF’s Board of Directors and to start negotiations on a full-fledged program in the second quarter. This is necessary to cover the existing $10B financing gap in the state budget deficit for 2023, said Minister of Finance Serhiy Marchenko. He notes that this year’s state budget deficit has been reduced to $38B from $51B last year, and it is expected to be fully financed through external sources. So far, an agreement has been reached on $10B in grants from the US and €18B in macro-financial assistance from the EU in the form of loans. Marchenko emphasized that Ukraine is determined to fully implement the conditions for receiving this aid that have been agreed upon with the EU in order to carry out the structural reforms necessary for rapid post-war recovery.