The International Monetary Fund (IMF) and Ukraine reached a tentative deal to implement an economic policy oversight program to put Kiev on track towards a full-fledged program with the financial agency, the IMF said on Wednesday
WASHINGTON (Pakistan Point News / Sputnik - 23rd November, 2022) The International Monetary Fund (IMF) and Ukraine reached a tentative deal to implement an economic policy oversight program to put Kiev on track towards a full-fledged program with the financial agency, the IMF said on Wednesday.
"The mission and the Ukrainian authorities have reached staff-level agreement on economic policies for a Program Monitoring with board Involvement (PMB)," the IMF said in a statement.
Ukrainian authorities requested a four-month PMB to support their economic program, anchor macroeconomic policies and pave the way to a full-fledged IMF program, the statement said. An IMF mission held virtual talks with Ukraine from November 11-22 to discuss the key elements of their program, the statement said.
The PMB will help provide an anchor for macroeconomic policies and catalyze donor support, the statement said.
The agreement is subject to approval by IMF Management and an IMF Executive Board discussion, expected to take place in the coming weeks, the statement added.
