IMF sets itself the task of guaranteeing the necessary financial support for Ukraine in 2023 – Managing Director

The International Monetary Fund (IMF) aims to determine the amount of financing needed for Ukraine in 2023 and ensure its availability, IMF Managing Director Kristalina Georgieva said on Tuesday at the International Conference of Experts on the revival, reconstruction and modernization of Ukraine in Berlin.

The IMF considers it its duty to determine macroeconomic indicators for Ukraine and to consider various scenarios – slow or accelerated development, to react and encourage the measures that Ukraine should take to accelerate its path towards European Union, she said.

“We have to make sure that the funding is secured and provided,” Georgieva added, adding that she also announced it to Ukrainian President Volodymyr Zelensky.

According to the Managing Director of the IMF, according to the results of the mission, the Ukrainian state budget deficit for 2023 is estimated at $ 3 billion per month, but it is also necessary to import gas and restore infrastructure, considering that this amount could increase. at $4 billion.

“If the destruction of Ukrainian infrastructure and economic activities worsens further, the range can go up to $5 billion,” Georgieva added.

The head of the IMF said that the work of the IMF mission and the Fund aimed at structured financing, which is based on clear needs assessments, so she supported the proposals of the President and Prime Minister of Ukraine, the German Chancellor and the President of the European Commission to create a coordination platform for the provision of this structured finance.

Georgieva again praised the Ukrainian authorities for the stable performance of state functions, and also underlined the responsible behavior of donors: while Ukraine needs 5 billion dollars per month in 2022, they announced the provision of $35 billion, most of which has already been provided. .

Prime Minister Denys Shmyhal told the conference that the government estimates the need to finance the state budget deficit in 2023 at $3-4 billion per month. In 2022, Ukraine announced that it needed support of $5 billion per month, but so far it has never been able to attract them. The best indicator was August with 4.6 billion dollars, and in general since the beginning of the war, i.e. for eight months, external financing amounted to 23.62 billion dollars, of which 10.5 billion dollars in subsidies and 1 billion dollars for reconstruction.

The draft Ukrainian state budget for 2023, adopted in the first reading, provides for external financing of the deficit in the amount of 38 billion dollars, or about 3.2 billion dollars per month, including 15 billion dollars from the IMF. However, at the moment it is the follow-up of the program with participation of the board of directors (PMB), which does not involve the provision of funds, but should become a bridge to the standard financial program, which is expected at the beginning 2023.

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