IMF mission launches online program monitoring consultations with Ukraine

MOSCOW. Nov 11 (Interfax) - An International Monetary Fund mission led by Gavin Gray starts consultations with Ukrainian officials on Friday in the context continuing the discussion of their request regarding Program Monitoring with Board involvement, or PMB.

"The dialogue will be based on the results of meetings held last month in Vienna. The mission's work will take place online," Ukrainian media report, citing Vahram Stepanyan, the IMF Resident Representative in Ukraine.

It is thought the mission will last until November 17 and will finalize agreements for possible PMB approval.

National Bank of Ukraine Governor Andrei Pyshny said earlier that the technical discussions should produce the outline of a program that underlies the NBU's plan of action for the coming years and likely serves as the basis for the IMF Extended Fund Facility that Ukraine is counting on.

He said the IMF mission, the NBU and the Finance Ministry had consolidated their stance on monetary and fiscal policy in Vienna on October 17-20.

"The PMB will lay out the authorities' policy intentions to support macroeconomic and financial stability and present an assessment of external financing needs for 2023," mission head Gavin Gray said following the meetings in Vienna.

Ukraine expects that in early 2023, after one or two revisions of the non-monetary PMB, it will be possible to move towards a standard Extended Fund Facility with the possibility of fiscal and balance of payments support.