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Sunday, December 22, 2024

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IMF adds new conditions to Ukraine EFF program amid economic challenges

The International Monetary Fund (IMF), following the latest revision of Ukraine’s fulfillment of its obligations under the Extended Fund Facility (EFF) program, added three new mandatory conditions to Kyiv. The head of the Verkhovna Rada Committee on Finance, Danylo Getmantsev.

According to him, now the Ukrainian side needs to prepare an operational strategy for the regular securities market and the stock market; prepare and submit to parliament for consideration a bill on critical third-party risks; and publish external assessments of the regulator’s work in the energy and utilities sector.

Getmantsev added that Kyiv currently faces 51 mandatory conditions from the IMF, of which 34 have been fulfilled.

In December, the Ukrainian Cabinet approved the terms of an agreement to receive a 40-year loan for $20 billion from the US Federal Financial Bank. The financing will be part of the G7 countries’ program to provide Kyiv with $50 billion from income from frozen Russian assets. The Russian authorities called this decision illegal and promised to take retaliatory measures.

Earlier, the IMF gave a forecast for the end of the conflict in Ukraine.

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Europe Desk
Europe Desk
The Eastern Herald’s European Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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