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The IMF has launched a fund to support reforms in Ukraine

16 Oct, 2023
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The IMF has launched a fund to support reforms in Ukraine

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The International Monetary Fund (IMF) has announced the launch of the Capacity Development Fund for Ukraine, for which donors have already allocated $14 million.

This was reported by the Head of the National Bank of Ukraine, Andriy Pyshnyy, on Facebook.

"Today (October 14), the IMF announced the launch of the Capacity Development Fund for Ukraine. It will cover the needs of implementing our country's capacity development plan and successfully carrying out reforms," said Pyshnyy.

The Head of the NBU emphasized that in the last two memorandums between Ukraine and the IMF, there is a focus on maintaining macroeconomic, external, and financial stability to strengthen Ukraine's capacity.

In addition, several important directions are involved in this joint effort: international financial assistance, reforming the Ukrainian economy, and strengthening the institutional capacity of government bodies. For each of these, regularity, timeliness, and completeness are crucial. Reforms in Ukraine and capacity building should happen continuously, without interruption, and with the involvement of the best global practices.

"The IMF has once again confirmed its leadership in mobilizing financial assistance for Ukraine. Donors have already allocated $14 million, with the goal of raising $65 million," stated Pyshnyy.

 

The Odessa Journal

The Odessa Journal

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