IMF management approves Program Monitoring with Board Involvement for Ukraine

On December 19, the Executive Board of the International Monetary Fund (IMF) discussed a Management approved Program Monitoring with Board Involvement (PMB) for Ukraine.

The four-month Program Monitoring, which is based on a macroframework agreed with the IMF, will outline the fiscal and monetary policies of the Government of Ukraine and the National Bank of Ukraine to maintain economic stability.

In particular, PMB includes policies and measures to boost tax revenues and revive the domestic debt market, contribute to the long-term stability of the financial sector, contain monetary financing and enhance governance and transparency.

Program Monitoring with Fund Board Involvement will help catalyze donor financing and pave the way toward a fully-fledged Fund program.

For reference

On November 23, IMF Experts and representatives of the Ministry of Finance of Ukraine, the National Bank of Ukraine and other authorities reached a staff-level agreement on economic policies for PMB.