WASHINGTON, Dec 4 (Reuters) – The International Monetary Fund is analyzing Kyiv’s proposal to swap $2.6 billion in GDP-linked warrants for bonds, and is closely monitoring the response, IMF spokeswoman Julie Kozack said on Thursday.
“As always, any debt restructuring agreement will be assessed in the context of ensuring debt sustainability, and of course, ensuring … the financing assurances that Ukraine will need as part of the program,” Kozack told a regular briefing.
Ukraine must complete various actions, including taking steps to broaden its tax base and close customs loopholes, as well as securing financing assurances from creditors before the IMF’s executive board will consider a staff-level agreement on a new four-year, $8.2 billion lending program for Ukraine, she said.
The new staff-level agreement announced last week would replace the existing $15.6 billion Extended Fund Facility approved in March 2023, and is meant to help Kyiv maintain macroeconomic stability and strengthen public finances as the war against Russia continues to strain its budget.
(Reporting by Andrea Shalal)
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