WASHINGTON, March 19 (Reuters) - International Monetary Fund staff are in Kyiv this week to meet with Ukrainian authorities about how they plan to meet their commitments under a new $8.1 billion
IMF Staff Meet Ukrainian Lawmakers in Kyiv Over $8.1 Billion Lending Program
IMF Engagement with Ukraine: Lending Program and Fiscal Reforms
IMF Staff Visit and Objectives
WASHINGTON, March 19 (Reuters) - International Monetary Fund staff are in Kyiv this week to meet with Ukrainian authorities about how they plan to meet their commitments under a new $8.1 billion lending program approved last month, IMF spokeswoman Julie Kozack said on Thursday.
Meetings with Ukrainian Parliament
Kozack said IMF staff would also meet with members of the Ukrainian parliament to discuss fiscal reforms and tax changes required under the IMF program.
Commitment to Fiscal Reforms
She said Ukrainian authorities had reaffirmed their commitment to carry out fiscal reforms as agreed with IMF officials under the new loan.
Challenges and Conditions for Funding
IMF staff began talks with Ukraine's government on Wednesday as the country works to pass unpopular tax increases for small businesses and entrepreneurs that are needed to boost government revenues.
Importance of IMF Funding
Funding from the IMF, one of Ukraine's biggest international lenders, is key to macroeconomic and financial stability in the war-battered country.
Disbursement and Future Tranches
Last month, the fund disbursed $1.5 billion under its new $8.1 billion lending program to Ukraine, but future tranches depend on the government's ability to meet funding conditions.
Ukraine's Economic Situation
With the war with Russia now in its fifth year, Ukraine is grappling with a ballooning budget deficit. Ukraine would need between $45 billion and $52 billion in external financing this year to cover the gap, the government and economists said.
(Reporting by Andrea Shalal; Editing by Chizu Nomiyama and Cynthia Osterman)
