The IMF has started reviewing the EFF program with Ukraine.

On November 6, the IMF mission began discussing the second review of the extended financing program with Ukrainian authorities, said IMF Resident Representative to Ukraine, Vahram Stepanyan.

The NBU clarified that during the second review of the EFF program, the status of Ukraine’s fulfillment of its obligations under the Memorandum on Economic and Financial Policy will be reviewed. These include measures in fiscal and budgetary programs, monetary and currency policy, financial stability, and structural reforms for medium and long-term economic growth. In addition, experts will dwell on the issue of financing sources for Ukraine’s state budget deficit, including international financial assistance and the domestic debt market.

“The review will not be easy, but the Ukrainian team has been working effectively for more than 20 months of the full-scale war. We are aware of the critical need to maintain the IMF’s support not only for further financing of budget needs but for the development of our country“, said NBU chairman Andriy Pyshnyi.