The IMF will allow the National Bank of Ukraine to print UAH 50B if needed.

In case of a shortage of external financing at the beginning of 2023, the NBU can buy up to UAH 50B of domestic state loan bonds, according to the IMF’s materials on its monitoring program with Ukraine. In particular, it is noted that in the case of a temporary deficit of external financing and on the condition that the supply of new government bonds exceeds UAH 83.22B, the National Bank can directly buy government bonds for the amount of the deficit, but not more than UAH 50B ($1.36B). Taking into account payments to the National Bank under previously issued bonds, this will mean monetary financing of the budget up to UAH 42.4B.