Top NBU officials, int'l partners to discuss ways to boost Ukraine's financial resilience

MOSCOW. May 24 (Interfax) - Governor of the National Bank of Ukraine (NBU) Andrei Pyshny and his deputy Sergei Nikolaichuk have gone on a working visit to Tivat, Montenegro, to Vienna, Austria, Ukrainian media said, citing the NBU press service.

During their visit to Montenegro, the NBU representatives will attend a meeting of the regional group of member states of the International Monetary Fund (IMF) and the World Bank Group and will hold a series of meetings with senior officials of the IMF, the World Bank, the International Finance Corporation, and their counterparts from other central banks, the NBU press service said.

The parties will discuss the ongoing impact of the crisis on Ukraine's economy and financial sector and steps that need to be taken to strengthen the economy's resilience and to facilitate prompt post-crisis restoration.

In Vienna, Pyshny and Nikolaichuk will take part in the IMF mission conducting the first review of the IMF's Extended Fund Facility (EFF) program for Ukraine, it said.

The IMF Executive Board on March 31 approved a four-year EFF of $15.6 billion, or SDR11.6 billion, for Ukraine. After the disbursement of the first tranche, the program's schedule envisions providing three more tranches SDR664 million, or $893 million each, in mid-June and October of this year and in late February 2024 following the first, second and third reviews, which will evaluate Ukraine's progress in fulfilling its commitments with deadlines at the end of April, June and December, 2023, respectively.