IMF, Ukraine Plan To Finalize Assistance Package Worth Up To $16Bln By Spring - Reports

MOSCOW (UrduPoint News / Sputnik - 03rd February, 2023) Representatives of the International Monetary Fund (IMF) are going to meet with Ukrainian officials in mid-February as the parties intend to finalize a new package of financial aid for Kiev worth around $14-16 billion in coming weeks, The Financial Times reported on Friday, citing sources familiar with the talks.

The meeting is expected to take place in Warsaw, with both the IMF and Ukraine aiming to advance discussions on a multiyear aid package and finalize it by spring, the newspaper reported, adding that both the European Union and the United States were pushing the fund to accelerate efforts and agree the assistance program.

"We have been supporting Ukraine since the onset of the war and are committed to keep it going.

We are engaging closely with the Ukrainian authorities and hopefully move towards a fully-fledged programme as soon as feasible," an IMF spokesperson was quoted by The Financial Times as saying.

Earlier in the week, Ukrainian Deputy Finance Minister Olga Zykova said Kiev needed another $10 billion in international financial assistance from other countries and organizations to cover its budget deficit and ensure stable economic development. The chairwoman of the Ukrainian parliament's Committee on Budget, Roksolana Pidlasa, said that the country's state budget deficit in 2023 might amount to around $38 billion.

IMF Managing Director Kristalina Georgieva said in October that Ukraine would need $3-4 billion in external financing assistance per month in 2023.