The IMF agrees to provide Ukraine with another $1.1B, but there are conditions.

After the IMF’s Executive Board approves this agreement, Ukraine will receive another $1.1B tranche. As of the end of June, Ukraine has fulfilled all quantitative criteria and structural beacons. During the mission, the parties reached agreements on an updated list of measures to support macroeconomic stability in continuing wartime conditions. The IMF noted that it did not set specific requirements for Ukraine to raise taxes.

However, the head of the IMF’s mission in Ukraine, Gavin Gray, emphasized that Ukrainian authorities should take measures to eliminate tax evasion and combat the shadow economy. Among Ukraine’s other priorities are customs reform, the creation of new administrative infrastructure, accounting reform, and conducting the first external audit of the National Anti-Corruption Bureau. Also, one of the main requirements is for Ukrenergo’s independent supervisory board to resume its operations.