Ukraine meets all IMF structural benchmarks as of March 2024 - finance minister

MOSCOW. April 11 (Interfax) - The Ukrainian government has drafted a conceptual note for the "Affordable Loans 5%-7%-9%" state program to refocus on small and medium-sized enterprises (SMEs), thus meeting every benchmark of the International Monetary Fund (IMF)'s Extended Fund Facility (EFF) for March 2024, Ukrainian Finance Minister Sergei Marchenko said.

"What is more, it [the conceptual note for the 5%-7%-9% program] has been accepted by the government. We have received feedback from the IMF and have made improvements. I do not see any particular problems with the note or other issues, as we are doing everything on time," Marchenko told Ukrainian media on Wednesday after a meeting of the Steering Committee of the Ukraine Donor Coordination Platform in Kiev.

Ukraine has met every structural benchmark due by the end of March, he said.

Marchenko noted the successful third EFF review, after which $880 million were transferred to the budget.

"We are taking the necessary steps to prepare for the fourth review, which we expect no later than in June [...], and our work will continue. This is our main track, and we are fulfilling our obligations very thoroughly," Marchenko said.

He said he hopes that Ukraine would receive another 1.5-billion-euro tranche of the EU interim funding under Ukraine Facility upon the achievement of five targets.

"We have included the targets that could be reached with a short time. Hopefully, they will be met on time, as the rhythmic financing is important to us. New transfers are due in April, so I think we will do the work as fast as we can to get the money," Marchenko said.

The targets include the automatic information exchange between the State Land Cadaster and the State Register of Real Estate Titles, as well as the implementation of a government resolution on the procedure for budget support for industrial parks as an instrument attracting investments.