20,000 people chose to be part of the Kyiv Independent community — thank you.

Skip to content
Edit post

Zelensky signs budget bill in line with IMF program

by Martin Fornusek August 18, 2023 10:18 PM 2 min read
President Volodymyr Zelensky in his office in Kyiv, Ukraine. (Presidential Office's press service)
This audio is created with AI assistance

President Volodymyr Zelensky has signed a bill designed to ensure the predictability of budget policy and to strengthen debt sustainability, lawmaker Yaroslav Zhelezniak announced on Aug. 18.

This step means the implementation of the International Monetary Fund's (IMF) 10th "structural beacon", and serves as the basis for the implementation of the 12th "beacon" on better budget predictability, better debt management, and the risk management of state guarantees, Zhelezniak wrote on his Telegram channel.

The law restores stipulates that, to be considered by the parliament, budget amendments must be approved by the Finance Ministry.

The legislation also sets limits on state guarantees and resumes the development of the State Debt Management Strategy for 2024-2026, which the Finance Ministry must submit by Oct. 25, 2023.

The law was backed by the parliament on July 27 as part of the efforts to complete benchmarks set by the IMF's program for Ukraine.

In March, the IMF approved an agreement with Ukraine under the Extended Fund Facility (EFF) for four-year financing aid worth about $15.6 billion, part of an overall $115 billion package.

In a first review of the program in June, the IMF said that Ukraine had made strong progress towards its commitments despite Russian aggression.

According to the organization's statement, the country had met all quantitative performance criteria through end-April and structural benchmarks through end-June.

Under the program, Ukraine has already received around $3.6 billion disbursed by the IMF.

Browder: ‘West must hand Russian Central Bank’s $350 billion to Ukraine for reconstruction’
London-based American investor Bill Browder says people call him the “number one enemy” of Russian President Vladimir Putin and, more recently, an official “Friend of Ukraine.” Browder has spent the last 13 years campaigning to freeze Putin’s assets hidden in the West. Now, he’s fighting for them t…

Independent journalism needs a community —
not a paywall.

We’re working hard to show the world the truth of Russia’s brutal war — and we’re keeping it free for everyone, because reliable information should be available to all.

More than 20,000 people chose to stand behind us. We’re deeply grateful and overwhelmed with your support. Thank you for making it possible.

Let´s see how far we can go?

News Feed

8:42 PM

Egyptian POW didn't need money, but went to fight for Russia.

Egyptian-born Russian fighter, callsign "Cobra," signed a contract with the Russian army in 2024, abandoning his young wife, university studies and comfortable lifestyle. Now in Ukrainian prison, he's rethinking his choices. Subscribe to our channel for more independent reporting from Ukraine.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.