IMF mission starting policy discussions with Kyiv, mission’s Ukraine chief says

An International Monetary Fund (IMF) mission was scheduled to start policy discussions with the Ukrainian authorities on Wednesday, the IMF’s resident representative to Ukraine said.

The representative, Vahram Stepanyan, said the IMF team would be led by Gavin Gray, the IMF mission chief for Ukraine.

“An IMF mission, led by Gavin Gray, starts policy discussions today with the Ukrainian authorities on a potential Fund-supported program,” Stepanyan said in a brief statement that provided no further details.

Ukrainian officials have said they hope to agree a $15-billion multi-year program with the IMF, in what could be the largest loan package for the country since Russia’s full-scale invasion a year ago.

Ukraine’s central bank said it hoped for a four-year program that would be structured in two stages – during the war and after the war.

“We aim to reach an agreement with the IMF mission on the program for extended financing during March and submit the agreement for the consideration of the IMF’s board of directors,” central bank governor Andriy Pyshnyi said in a statement.

“We are determined to have a productive discussion and search for common solutions.”