Ukraine: First Review under the Extended Arrangement under the Extended Fund Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Ukraine

IMF Staff Country Reports, July 7, 2023

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Ukraine: First Review under the Extended Arrangement under the Extended Fund Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Ukraine

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Bibliographic details

• Published: July 7, 2023
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9798400247224.002

Program implementation and progress

• The paper focuses on Ukraine’s First Review under the Extended Arrangement under the Extended Fund Facility (EFF).
• Authorities have met all applicable quantitative performance criteria through end-April and structural benchmarks through end-June.
• Authorities remain highly committed to the program despite challenging conditions.
• Continued strong ownership and reform momentum are identified as necessary to:
  • safeguard macroeconomic stability;
  • enhance institutional reforms;
  • support reconstruction efforts;
  • facilitate Ukraine’s path to EU accession.

Near-term fiscal policy priorities

• Fiscal policies will continue to focus on:
  • ensuring adequate resources for priority spending;
  • sustaining strong tax revenues, including by refraining from measures that would erode the tax base;
  • preserving fiscal and debt sustainability.

Governance, transparency, and corruption

• Reforms to strengthen governance, transparency and tackle corruption need to proceed immediately.
• Progress on governance and anti-corruption is essential to:
  • convince foreign investors that there is a level playing field in Ukraine;
  • assure donors that their resources will be well spent;
  • support progress toward EU accession.

Thematic coverage and keywords

• Subject areas: Budget planning and preparation; Expenditure; Fiscal risks; International organization; Monetary policy; Public debt; Public financial management (PFM); Revenue administration.
• Keywords appearing in the source: Budget planning and preparation; electricity price restriction; EU remit regulation; Fiscal risks; Global; NBU estimate; private-sector loan; reform agenda; staff appraisal.

Content in this bundle

• Ukraine — First Review Under the Extended Arrangement Under the Extended Fund Facility
  • Ukraine — First Review Under the Extended Arrangement Under the Extended Fund Facility (Markdown version)
  • Ukraine — First Review Under the Extended Arrangement Under the Extended Fund Facility (PDF)