The International Monetary Fund mission has arrived in Ukraine, IMF Resident Representative in Ukraine Vahram Stepanyan said, Radio Liberty reports.
"The IMF mission led by Gavin Gray begins discussions with Ukrainian authorities today to prepare for a review of the Monitoring Program with the participation of the Board of Directors," the statement said.
Earlier, Bloomberg reported that in March, the IMF may approve a new financial support program for Ukraine worth $16 billion.
“The IMF is exploring a multiyear aid package for Ukraine worth as much as $16 billion to help cover the country’s needs and provide a catalyst for more international funding while Kyiv tries to repel Russian forces,” the message read.
In the first year of the new program, Ukraine could receive between $5 billion and $7 billion, and the first tranche could arrive in April 2023.
The program approval depends on the fulfilment of several conditions.
These conditions include the approval of the Group of Seven nations and other donors and creditors of Ukraine. The IMF itself should also change its rules for granting loans to countries at war. Ukraine also has to commit to implementing specific reforms agreed upon with the IMF.