## Ukraine: Third Review of the Extended Arrangement Under the Extended Fund Facility, Requests for a Waiver of Nonobservance of Performance Criterion, and Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ukraine

_IMF Staff Country Reports, March 22, 2024_

## Source details

**Canonical URL:** [Ukraine: Third Review of the Extended Arrangement Under the Extended Fund Facility, Requests for a Waiver of Nonobservance of Performance Criterion, and Modifications of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Ukraine](https://www.imf.org/en/publications/cr/issues/2024/03/22/ukraine-third-review-under-the-extended-arrangement-under-the-extended-fund-facility-546741)

## Other formats

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## Bibliographic details
- Published: March 22, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400270291.002

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### Overview and context
- This paper presents Ukraine’s Third Review of the Extended Arrangement under the Extended Fund Facility (EFF), Requests for a Waiver of Nonobservance of Performance Criterion, and Modifications of Performance Criteria.
- The EFF continues to provide a strong anchor for the authorities’ economic program, which has remained on track despite extremely challenging circumstances due to Russia’s ongoing war in Ukraine.
- The authorities met all structural benchmarks through end-February, underscoring their continuing commitment to an ambitious reform agenda.
- Publication date: March 22, 2024.
- Pages: 154.
- Series: Country Report No. 2024/078.
- Issue: 078.
- Volume: 2024.
- DOI: https://doi.org/10.5089/9798400270291.002.
- ISBN: 9798400270291.
- ISSN: 1934-7685.
- Stock No: 1UKREA2024001.

### Performance criteria, waiver, and adjustments
- The Board approved the authorities’ request for a waiver for nonobservance of the December performance criterion on tax revenues, which was missed by a minor amount.
- The review includes requests for modifications of performance criteria tied to the EFF arrangement.

### Fiscal pressures, financing needs, and sustainability
- The ongoing war continues to strain Ukraine’s public finances.
- External disbursements on appropriate concessional terms, together with strong domestic resource mobilization, are necessary for Ukraine to meet its financing needs and secure fiscal and debt sustainability.
- Stronger revenue mobilization, underpinned by the recently approved National Revenue Strategy, while avoiding measures that erode the tax base, will be critical to secure fiscal sustainability.

### Key themes and subject coverage
- Budget planning and preparation
- Central banks
- Fiscal risks
- International organization
- International reserves
- Monetary policy
- Public debt
- Public financial management (PFM)
- Revenue administration

### Keywords and programmatic elements highlighted
- baseline financing gap
- budget financing needs
- Budget planning and preparation
- budget support grant
- Fiscal risks
- FX cash market stability support
- General government finance
- Global
- inflation moderate
- International reserves
- SOE state ownership Policy
- support program

*IMF Staff Country Reports, Country Report No. 2024/078.*

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_Source: https://www.imf.org/en/publications/cr/issues/2024/03/22/ukraine-third-review-under-the-extended-arrangement-under-the-extended-fund-facility-546741_