IMF and Ukraine Prepare New Program: What Will Change for Business

The IMF mission is working with the government to implement the Extended Fund Facility (EFF). Oleksiy Sobolev, the Minister of Economy, Environment and Agriculture of Ukraine, discussed important topics with IMF representatives on November 17, such as structural reforms, capital mobilization, and corporate governance, led by Gavin Gray.

Discussed Issues

Among them is capital mobilization as part of the de-shadowing of the economy, which the government is working on with IMF advice. The main focus will be on creating incentives for businesses to legally bring assets out of the shadows, invest them into the economy, and have guarantees of protection.

One of the key topics of the meeting was updating corporate governance in state-owned companies, particularly in the context of the situation with 'Energoatom'. The Ministry of Economy presented its partners with an action plan that includes changes to supervisory boards, conducting competitions for managerial positions, and updating internal control procedures.

The described meeting indicates the importance of Ukraine's cooperation with the IMF and the government’s readiness to implement structural reforms aimed at improving the financial and economic situation of the country.