IMF, Ukraine meet in Warsaw, reach staff-level agreement

During a meeting in Warsaw, a mission from the International Monetary Fund (IMF) and Ukrainian officials reached a staff-level agreement on Feb. 17 on Ukraine's compliance with the Program Monitoring with Board Involvement (PMB).

The discussion also focused on technical and policy issues related to Ukraine's medium-term macroeconomic and structural policies.

"Due to the joint efforts of the government of Ukraine and the National Bank of Ukraine, all end-December quantitative and indicative targets have been met, as have all five end-January structural benchmarks," Gavin Gray, the head of the IMF mission, said.

The Ukrainian government is working towards specific targets such as drafting a set of tax laws to increase revenue, addressing arrears through measures taken by the Finance Ministry, developing a social safety net plan, establishing a supervisory board for Naftogaz, and agreeing on key elements related to banking sector diagnostics.

Gray added both the public and private sectors would have important roles to play in Ukraine's post-war recovery to ensure the country's progress toward EU accession.

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The Kyiv Independent