Sergii Marchenko held several meetings with the Management of the IMF

On October 11, during the working visit to the USA, where the Annual Meetings of the International Monetary Fund and the World Bank Group are taking place, Minister of Finance of Ukraine Sergii Marchenko held several meetings with IMF representatives to discuss further cooperation.

In particular, negotiations took place with the Managing director of the IMF Kristalina Georgieva, the Director of the European Department of the IMF Alfred Kammer, Deputy Director of the European Department of the IMF Julie Kozack and the newly appointed IMF mission chief for Ukraine Gavin Gray.

Deputy Minister of Finance Olga Zykova, Government Commissioner for Public Debt Management Yuriy Butsa and Deputy Minister of Finance for European Integration Yuriy Draganchuk also took part in the meeting.

At the meeting with the Managing director of the IMF , the parties discussed the possibility of a new loan program to ensure priority expenditures of the State Budget of Ukraine in 2023.

Sergii Marchenko thanked for timely financial assistance to overcome the economic consequences of a full-scale war. The International Monetary Fund was one of the first to provide financial support to the Government of Ukraine. In March, Ukraine received USD 1.4 billion as part of the Rapid Financing Instrument from the IMF. On October 7, the Fund directed an additional USD 1.3 billion to the State Budget of Ukraine.

"Today, we are observing a gradual recovery of the economy in Ukraine, however, in the conditions of active hostilities, it is crucial for us to launch a new cooperation program with the IMF to ensure the stability of the financial system. Ukraine's needs for additional financing in 2023 reach USD 3.5 billion per month", said the Minister of Finance of Ukraine.

During the meeting with the Director of the European Department of the IMF, Sergii Marchenko expressed the faith for defining the conditions for launching a new cooperation program.

During the meeting with the IMF mission chief for Ukraine, Sergii Marchenko congratulated Gavin Gray on his appointment and expressed hope for strengthening cooperation between the Government of Ukraine and the IMF.

"Cooperation with the IMF is one of the most important priorities for Ukraine. This year we celebrate the 30th anniversary of our cooperation with the Fund. During this time, we implemented many financial programs and structural reforms which made us stable in the face of today's challenges. We hope that the IMF will continue to play an important role in building a successful future of Ukraine", said the Minister of Finance of Ukraine.