The Ministry of Finance has updated the Reform Matrix; Ukraine has already fulfilled 108 indicators in the year’s first half. The Ministry of Finance has updated the Reform Matrix, an analytical tool used to monitor the fulfillment of the requirements of international partners in real-time. In the updated Reform Matrix, ther... #imf #ReformMatrix #ReformsinUkraine #UkraineFacility #worldbank
Ukraine has fulfilled more than 50% of the IMF’s requirements and received $10.2B from the IMF since the beginning of the war. As Minister of Finance, Serhiy Marchenko noted: “The Government of Ukraine, the National Bank of Ukraine, and other authorities have so far implemented 23 structural beacons out of 37 stipulated... #financialaidforUkraine #imf #IMFStructuralBeacons #ReformsinUkraine #SerhiyMarchenko #UkraineBudget2024
Ukraine is trying for the second time to restructure more than $20B in Eurobonds. A group of Ukrainian bondholders has signed non-disclosure agreements to begin a second round of formal talks with the Ukrainian government to restructure more than $20B in debt. Negotiations started ... #DebtRestructuring #Eurobond #imf #UkraineBond #ukrainedebt
Owners of Ukrainian GDP warrants are rallying for negotiations on restructuring. Some holders of Ukrainian GDP warrants are planning to create a group that will represent their interests in restructuring sovereign debt, the data platform on public markets, and REDD companies repor... #Creditors #DebtRestructuring #ForeignInvestor #GDPwarrants #imf #UkraineBond #ukrainedebt
Where will Ukraine spend the $2.2B tranche recently received from the IMF? This is part of the funds provided by the $16B Extended Fund Facility (EFF) program. Prime Minister Denys Shmyhal said this will help the government finance critical budget expenditures, social assist... #DenysShmyhal #EFFprogram #financialaidforUkraine #imf #ReformsinUkraine #UkraineBudget
Ukraine makes new offers to creditors to reach an agreement on debt restructuring. Ukraine plans to include GDP warrants in a proposal to restructure international bonds worth about $20B. This is a new attempt by Kyiv to establish contact with investors after formal negotiations thu... #Creditors #DebtRestructuring #GDPwarrants #imf #UkraineBond #ukrainedebt
The IMF published a pessimistic scenario for Ukraine’s economy the war becomes protracted. The IMF’s negative scenario assumes that the war will end by the end of 2025 (compared to the end of 2024 in the baseline scenario) and that the shock will start in the third quarter of 2024. Th... #imf #UkraineEconomicForecast #UkraineEconomy #UkraineRecovery #WarinUkraine
At the IMF’s request, Ukraine will work on creating a postal bank. Ukraine’s memorandum with the IMF says that the Ukrainian authorities plan to create a specialized bank to ensure access to financial services for residents in remote settlements, de-occupied te... #financeUkraine #financialservices #IhorSmilyansky #imf #nbu #PostalBank #Ukrposhta
Ukraine will receive another $2.2B from the IMF. The Board of Directors of the IMF completed the fourth review of the Extended Fund Facility for Ukraine (EFF), deciding to allocate about $2.2B to budget support. “Despite the difficult conditio... #EFFprogram #financialaidforUkraine #imf #IMFStructuralBeacons #ReformsinUkraine #UkraineEconomy
The IMF has updated its memorandum with Ukraine; most conditions have been met, but new beacons have been added. Ukraine has already fulfilled 23 of the 37 requirements involving reforms and legislation changes. Among them are two new ones: changing the Criminal Procedure Code by the end of October to allow the ... #imf #IMFStructuralBeacons #LegislationUkraine #NABU #PrivatizationUkraine #ReformsinUkraine
The IMF has worsened expectations for Ukraine’s economy and predicts an electricity shortage until 2026. The IMF has downgraded Ukraine’s economic growth forecast for 2024 and 2025 due to the consequences from Russian shelling of energy infrastructure. The revised forecast states that Ukraine’... #ElectricityDeficitUkraine #imf #KristalinaGeorgieva #UkraineEconomicForecast #UkraineEconomy #WarLosses
By the end of the year, Ukraine will receive at least $65B from the US, the G7, the EU, and the IMF. The Ukrainian government expects to receive $7.9B in credit support from the US, Minister of Economy Yuliya Svyrydenko said. At a meeting of the Economic and Financial Affairs Council, the EU finance ... #EFFprogram #financialaidforUkraine #imf #LoanForUkraine #RussianAssetsConfiscation #UkraineBudget2024 #UkraineFacility
IMF: The Russian war against Ukraine was a turning point for the global economy. The Russian aggression has had severe consequences for the global economy, and has become a turning point for the world’s future, said the deputy head of the IMF, Gita Gopinath. The war has incr... #GitaGopinath #GlobalEconomy #Globalinflation #imf #UkraineEconomy #WarinUkraine
Ukraine has not agreed with its creditors on Eurobond restructuring terms. Ukraine and a special committee of creditors, representing the owners of almost 20% of Ukraine’s Eurobonds, negotiated between June 3 and 14 and exchanged restructuring proposals. However, according t... #Creditors #DebtRestructuring #Eurobond #imf #UkraineBond
The US hopes Ukraine will restructure its debt by autumn. The US hopes that Ukraine will be able to reach an agreement with private creditors on debt restructuring by September 1, US Deputy Treasury Secretary Wally Adeyemo while in Kyiv. “This is one o... #CompensationForUkraine #DebtRestructuring #imf #IrynaMudra #ukrainedebt #WallyAdeyemo
IMF: The EU will completely abandon Russian energy sources by 2030. According to the IMF, the EU has stopped importing coal and most oil from Russia. Imports of Russian gas to the EU have also been decreasing since 2021, and after the beginning of the full-scale war, ... #EnergyIndependence #EnergySourcesRussia #EUenergy #imf #RussianFossilFuels #RussianGas
Ukraine agrees on the next steps with the IMF mission and expects three more tranches totaling $4.5B this year. The Ukrainian government has synchronized with the mission of the IMF in further joint steps to restore economic growth and carry out reforms. The key areas are the restoration and decentralization of... #EFFprogram #imf #ReformsinUkraine #UkraineFacility
Ukraine announces its expectations for international financial assistance for this year. Since the beginning of the full-scale war, Ukraine has attracted more than $85B in external financing, Prime Minister Denys Shmyhal said. “Over ₴1T was attracted to the budget thanks to military... #DenysShmyhal #EFFprogram #financialaidforUkraine #imf #UkraineBudget2024 #UkraineFacility
Ukraine will soon launch a mechanism to insure investment loans against war risks. The Export Credit Agency will soon approve an investment credit insurance product, said Ruslan Hashev, head of the ECA board, at the My Export conference. Among the factors that determine the cost of ... #ECA #imf #InsuranceUkraine #InvestmentCredit #LoansforBusiness #MilitaryRiskInsurance
How big is the national debt, and how much do Ukrainians owe? According to the Ministry of Finance data, the state’s and state-guaranteed debt as of April 1, 2024, amounts to ₴5.9T ($149B). Since 2020, this amount has increased significantly, mostly due to the f... #ebrd #EIB #ExternalDebt #imf #ukrainedebt #UkraineDebtRepayment #UkraineEconomy #worldbank
The growth rate of world trade will double this year: Who will benefit from this? International organizations predict that global trade growth should double this year as inflation eases and the booming US economy boosts activity. As the FT noted, the OECD, IMF, and World Trade Orga... #Eurozone #GlobalTrade #imf #OECD #worldeconomy #WTO
A year and a half separate the Russian economy from collapse. According to the Carnegie Foundation, the Russian economy is still strong despite rising military spending and sanctions. In fact, the IMF predicts that the Russian Federation’s economy will gro... #imf #RussiaBudget #RussianEconomy #RussiaProfits #SberbankRussia
How will Ukraine’s partners help it close the hole in its budget this year? According to the Ukrainian government, the need for international financing in 2024 is $37.2B. As of April 20, Ukraine has received $10.2B: $4.9B from the EU (Ukraine Facility) $2.1B from Japan... #financialaidforUkraine #imf #SupportUkraine #UkraineBudget2024 #UkraineBudgetDeficit #UkraineFacility #worldbank
IMF assistance acts as a catalyst for Ukraine’s financial support from other countries, the head of the IMF, Kristalina Georgieva, emphasized. She notes that the IMF’s 2023-2027 program with Ukraine for will provide $15.1B. However, Georgieva states the program will generate a total of $... #EFFprogram #financialaidforUkraine #imf #KristalinaGeorgieva #UkraineBudget2024 #UkraineEconomy
Canada will provide Ukraine $1.2B in military aid and a soft loan of $300M. Over five years, Canada will provide CAD 1.6B (about $1.2B) for various lethal and non-lethal military aid packages to Ukraine, according to a project contained within the budget that has been submitt... #CanadaAId #ebrd #imf #LoansForUkraine #MilitaryAidforUkraine #UkraineReconstruction
The IMF expects Ukraine’s GDP to grow by 3.2% this year. Next year, Ukraine’s GDP growth will be 6.5%, according to the World Economic Outlook report. According to the IMF forecast, consumer inflation in Ukraine will decrease from 12.9% in 2023 to 6.4... #EFFprogram #GDPinUkraine #imf #SerhiyMarchenko #UkraineEconomicForecast #UkraineEconomy
The US offers to provide Ukraine with billions of euros in aid secured by profits from the Russian Federation’s frozen assets. As the FT writes, the US is proposing to the G7 a compromise plan for the use of Russian assets rather than their confiscation or simply providing Ukraine with their profits. Daleep Singh, the US pres... #DaleepSingh #Euroclear #imf #ReparationsForUkraine #RussianAssetsArrested #RussianAssetsProfits
Ukraine’s debt to the IMF is recognized as stable and is not subject to restructuring. To the question of whether the IMF can write off Ukraine’s approximately $15B in debt, taking into account an analysis of Ukraine’s debt sustainability, the top manager of the IMF, Julie K... #DebtRestructuring #imf #JulieKozack #ukrainedebt
Ukraine increases its international reserves to a new record. Ukraine’s international reserves grew by 18% in March and amounted to $43.8B on April 1, the National Bank reported. The regulator explained that the increase is due to the volume of income from... #CurrencyMarket #imf #NationalBankReserves #nbu #UkraineBudget2024 #UkraineFacility #worldbank
The IMF plans to discuss Ukraine at the spring meetings with the WB. The top manager of the IMF, Julie Kozack, said: “We will discuss during the spring meetings on April 15 (between the IMF and the World Bank) the situation in Ukraine and the critical importance of the... #DebtRestructuring #imf #JulieKozack #RussianAssets #RussianAssetsConfiscation #ukrainedebt #worldbank
Ukraine’s national debt increased by 54% during the first two years of the war. From February 2022 to February 2024, Ukraine’s state debt increased by $50.4B. To reduce debt pressure on the state budget, Ukraine has worked to attract loans on preferential terms. For example, the ... #DebtRestructuring #imf #UkraineBudget2024 #ukrainedebt #worldbank
Ukraine will defer payments on its national debt with the US, and the Eurobond restructuring might include a partial debt write-off. Ukraine and the US signed an agreement to postpone public debt payments with a group of Ukraine’s creditors from the G7 countries and the Paris Club. At the same time, the debt sustainability analysis... #DebtRestructuring #GDPinUkraine #imf #UkraineBudget2024 #ukrainedebt #UkraineEconomy
How Ukraine’s budget was funded in March: $9B in external financing and $4B in taxes and fees. In March, the state budget’s general fund received ₴158.1B (over $4B) in taxes, fees, and mandatory payments. About ₴105.7B was received from taxes and ₴45.8B from the State Customs Service, but... #financialaidforUkraine #GrantForUkraine #imf #UkraineBudget2024 #worldbank
Following the discount rate decrease, Ukrainian bonds’ yield fell as well. At the first auction, after the NBU decided to lower the discount rate, the Ministry of Finance lowered rates for OVDP by 20-30 basis points. The secondary market also reacted by lowering rates for hr... #financeUkraine #imf #KeyPolicyRate #nbu #OVDPselling #UkraineBond #ukrainedebt
The international financial aid deficit next year may reach $15B. As Deputy Chairman of the Finance Committee Yaroslav Zheleznyak said, the lack of financial aid from international partners next year may amount to $10-15B, and the hidden additional state budget defi... #EFFprogram #financialaidforUkraine #imf #SupportUkraine #UkraineBudget2024 #UkraineBudgetDeficit #YaroslavZhelezniak
Ukraine refuses to import gas and is preparing for zero transit. As a memorandum with the IMF states, “Limited domestic consumption and growing domestic production limited the need for gas imports during the last heating season. For the next heating season of... #energyukraine #GasstorageUkraine #GasTransit #GasUkraine #imf #Naftogaz #UkraineGasimport #UkrainianGTS
The International Monetary Fund has updated its macro forecast for Ukraine. According to the IMF, the expectation for nominal GDP in 2024 has increased to ₴7.75T from the ₴7.64T predicted in December last year’ However, 2025’s forecast remains almost unchanged at ₴8.86T. At t... #GDPinUkraine #imf #InflationinUkraine #UkraineBudget2024 #UkraineBudgetDeficit #UkraineEconomicForecast #UkraineEconomy
IMF: Due to the intensification of the war, the shock to Ukraine’s economy will begin in the second quarter. According to the IMF, in a negative scenario, the war will end by the end of 2025 and not at the end of 2024 as in the base scenario. At the same time, “the shock will begin in the second quarte... #GDPinUkraine #imf #InflationinUkraine #UkraineEconomicForecast #UkraineEconomy #WarinUkraine
Each delayed reform within the framework of the Ukraine Facility will cost Ukraine $400M. Deputy Minister of Economy Oleksiy Sobolev voiced this prediction at the presentation of the Monitoring of the Implementation of the Conditions of the IMF Program and Support from the EU. According to... #imf #OleksiySobolev #ReformsinUkraine #SupportUkraine #UkraineFacility #worldbank
Ukraine awaits a decision on a new IMF tranche on March 21 and $10B in external financing in March-April. The National Bank assumes that Ukraine will receive over $10B in external funding in March-April. A favorable decision by the IMF board of directors will allow Ukraine to receive the fourth tranche of... #EFFprogram #financialaidforUkraine #imf #SerhiyMarchenko #UkraineFacility
The decision on the next IMF tranche for Ukraine will occur in the second half of March. The Executive Board of the IMF will hold a meeting on the third review of the Extended Financing Program (EFF) and the allocation of the next tranche for Ukraine in the second half of this month, said... #EFFprogram #financialaidforUkraine #imf #JuliaKozak
In March, Ukraine will receive about $9B in international aid. An expert from the Center for Economic Strategy said: “The first two months of 2024 were not very fruitful for Ukraine in terms of international aid. As of February 23, we had received only $436... #EFFprogram #financialaidforUkraine #imf #SupportUkraine #UkraineBudget2024
Ukraine has come close to an agreement with the IMF on a new $900M tranche. Bloomberg reports that Ukraine has reached a deal with the IMF, though the Fund’s executive board still needs to ratify it. The agreement is the result of the ongoing discussions over the past t... #financialaidforUkraine #imf #nbu #UkraineBudget2024 #UScongress
The IMF has created a trust fund to attract $65M to support reforms in Ukraine. The IMF has announced the official opening of a Ukraine Capacity Development Fund (UCDF) to support economic and financial reforms in Ukraine over the next five years. The fund’s goal is to attr... #imf #ReformsinUkraine #SupportUkraine #TrustFund #UCDF
An IMF team arrived in Kyiv to discuss reforms and financing for this year. The IMF team will participate in the inaugural meeting of the Steering Committee of the Fund for the Development of Potential of Ukraine, which the IMF administers. After these meetings, on February 1... #DenysShmyhal #EFFprogram #GavinGray #imf #IMFprogramm
At the request of the IMF, Ukraine develops a war risk insurance system. The National Bank of Ukraine reported that the Financial Stability Board approved a conceptual memorandum for creating a fully functional war risk insurance system in Ukraine. This is stipulated by th... #imf #InsuranceUkraine #MilitaryRiskInsurance #nbu
The IMF adjusted its global economic growth forecast in a positive direction. The International Monetary Fund raised its forecast for global economic growth in 2024 by 0.2 percentage points to 3.1%. In 2025, an increase of 3.2% is expected. The outlook has improved from last Oc... #GlobalEconomy #imf #IMFforecast #WorldEconomyForecast
Leading analysts predict a slowdown in the growth of the world economy. The pace of global economic growth will slow in 2024, according to more than half (56%) of the chief economists surveyed as part of the World Economic Forum (WEF) in Davos. The remaining respondents e... #Davos #GlobalEconomy #imf #worldeconomicforum
The IMF is assessing the impact of the confiscation of Russian assets on the international financial system, and Russia is preparing its case for the courts. The top manager of the IMF, Julia Kozak, noted that the fund believes that decisions on the confiscation of Russian assets should be made by the countries where the frozen funds of the Russian Federat... #imf #JuliaKozak #ReparationsForUkraine #RussianAssets #RussianAssetsConfiscation #RussianCentralBank
The IMF says it will help Ukraine attract additional revenues to its budget. The IMF is focused on supporting the work of the Ukrainian state and its social obligations, and not on the military sphere, said Alfred Kemmer, director of the European Department of the IMF. “... #AlfredKemmer #financialaidforUkraine #imf #UkraineBudget2024 #UkraineEconomy
