Finance ministry publishes Memorandum of Economic and Financial Policies with IMF
The Finance Ministry of Ukraine published Letter of Intent, Memorandum of Economic and Financial Policies (MEFP), and Technical Memorandum of Understanding (TMU), the essential documents under the Extended Fund Facility (EFF) approved by the International Monetary Fund (IMF) for Ukraine, in Ukrainian on its website on Thursday.
MEFP includes key liabilities of Ukraine on reforms with the concrete dates to introduce the most important measures (so-called structural benchmarks).
TMU sets out the understandings between the Ukrainian authorities and IMF staff regarding the definitions of the variables subject to quantitative targets (performance criteria and indicative targets) for the economic program supported by the Extended Arrangement under the EFF, although the two documents provide a complete picture of the agreements between Ukrainian authorities and the IMF on the implementation of the EFF.
In addition, IMF posted the Staff Report on its website. The report has been prepared by a staff team of the IMF with the officials of Ukraine on economic developments and policies underpinning the IMF arrangement under the EFF.
Earlier texts of all previous memorandums were published with delay or were not published at all, while IMF always quickly posted English versions of the documents.