Next year will be more difficult than this year in terms of getting funding.
International Monetary Fund update the memorandum on economic and financial policies as part of the fifth review of the loan program.
About this we are talking about it on the organization’s website.
By the end of December 2024, Ukraine must adopt a law on restarting the Chamber of Accounts, adopt amendments to the law on law-making activities to ensure the independence of the NEURC function and create a full board of directors of Ukrenergo. Ukrenergo’s board of directors should have seven members: three from the state and four independent (foreign).
The National Bank got one job – by the end of October, assess the main financial and operational risks to financial stability under various conditions and prepare contingency plans.
The IMF also suspended two previously established beacons, notably the NABU investigation (postponed from the end of September 2024 to the end of January 2025) and changes to the Criminal Procedure Code regarding the end of the investigation pre-test.
Apart from:
- adoption of changes to the Budget Code according to the Action Plan for Public Investment Management (until the end of January 2025)
- appointment of a new head of the Economic Security Bureau, selected through competition (end of February 2025)
- approve the procedure for evaluating public investment projects (end of February 2025)
- bill registration on tax reporting for operators of digital platforms, namely, online services offering taxi services, real estate rentals, markets, etc. (end of April 2025)
- appointment of the head of the State Customs Service and permanent chairs of all regional customs offices (end of June 2025)
- submit a budget declaration for 2026-2028 according to the program parameters (end of June 2025)
Let us remember that IMF completed the fifth review of the extended agreement under the Extended Financing Facility (EFF) for Ukraine, authorizing the provision of approximately US$1.1 billion to Ukraine. This money will be used to support the budget.
The IMF said the economy was more stable than expected in the first half of 2024, thanks to continued growth, moderate inflation and sufficient reserves supported by substantial external aid. However, the forecast for the end of 2024 and 2025 has worsened since the fourth review (June), mainly due to continued Russian attacks on Ukraine’s energy infrastructure and uncertainty about war
It was reported earlier that Ukrainians are expected to increase gas and electricity taxes because the IMF requires it. Read more about this in news.
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2024-10-21 19:13:00
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