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The role of the government in the economy during the war naturally increases and will likely remain elevated for some time given the huge spending needs on defense, social and reconstruction, so it is necessary to have an even stronger focus on transparent and efficient governance and expectations of continuous anti-corruption efforts, IMF Resident Representative in Ukraine Vahram Stepanyan has said.
The innovations of the EFF extended financing program "a floor on social spending" and "a floor on nominal tax revenues" are designed to help the authorities, in particular Ministry of Finance, to manage the fiscal accounts under extremely difficult circumstances of scarce resources and growing spending needs, International Monetary Fund Resident Representative in Ukraine Vahram Stepanyan has said.
The new EFF extended financing program, like previous programs of cooperation with the International Monetary Fund (IMF), will focus on reforms and activities in the energy sector, but it is expected that the main reform measures will be determined in the second stage of the program after the end of the war, International Monetary Fund Resident Representative in Ukraine Vahram Stepanyan has said.
IMF plans to complete discussions on new program with Ukraine in coming days interfax.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from interfax.com Daily Mail and Mail on Sunday newspapers.
The Ukrainian business community is concerned about how the gas and energy sectors are developing in Ukraine. The direction chosen by the state may have a negative impact on its ability to fulfill the obligations associated with EU membership.
The International Monetary Fund (IMF) mission led by Gavin Gray notes progress following policy discussions with the Ukrainian authorities in Warsaw on March 8-15 on a possible new program supported by the fund but notes the need to continue them in the coming days.
IMF Pledges Support for Ukraine miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
WASHINGTON (Reuters) - The International Monetary Fund on Wednesday said its staff made "very good progress" in talks with Ukraine on a set of policies that could underpin a new IMF lending program for the war-torn country, and the talks could be finalized in coming days.