Ukraine is preparing to launch the expanded financing program EFF in collaboration with the IMF
«These changes are important for the modernization of the economy and post-war recovery. The launch of the EFF program will serve as a signal of trust in Ukraine from international partners and investors», — stated Oleksiy Sobolev.
During a meeting with representatives of the International Monetary Fund mission led by Gavin Grey, Ukraine's Minister of Economy, Environment, and Agriculture Oleksiy Sobolev discussed key areas of cooperation — structural reforms, improvement of corporate governance, and capital mobilization.
This was reported by ThePublic.info citing the official government portal GOV.UA.
According to the minister, the IMF, together with the government, is beginning work on a new Extended Fund Facility (EFF) program. Its launch involves extensive reforms — from tax policy and procurement systems to transformations in the public sector and corporate governance. These were the focus areas during the negotiations.
A separate discussion block was dedicated to the de-shadowing of the economy and creating incentives for business, which will allow legal capital outflow from the shadow economy, investment in Ukraine, and obtaining protection guarantees. They also discussed the experiences of other countries that have already implemented similar economic tools.
An important role in future reforms is played by updating corporate governance, particularly exemplified by «Energoatom». The Ukrainian side presented partners with an action plan that includes:
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updating the composition of supervisory boards;
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conducting competitions for managerial positions;
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amendments to charters and procedures of nomination committees;
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preparation of relevant legislation.
Among the next steps are the centralization of some supervisory board functions and strengthening requirements for transparent financial reporting and independent audits, even under martial law conditions.
«The launch of the EFF program should serve as a signal of trust in Ukraine from international partners and investors», — emphasized the minister.
