The International Monetary Fund begins a new mission in Ukraine amid an emphasis on combating corruption
The International Monetary Fund announced that it will soon begin a technical mission in Ukraine to discuss its financing needs and the possibility of launching a new lending program, at a time when Kiev is intensifying its efforts to reduce corruption amid the continuing war for a fourth year. Corruption.
Kozak added that “Ukraine needs a strong anti-corruption structure to protect public money, improve the business climate and attract investments,” according to the “US News” network. This move comes after Ukrainian Prime Minister Yulia Sviridenko announced the start of a comprehensive review of all state-owned companies, including the energy sector, following a corruption scandal that shook the country in which officials were accused of trying to control procurement operations at the Energoatom nuclear agency. The current program is worth $15.5 billion, from which Ukraine has so far received $10.6 billion.
The Fund believes that the success of the next program depends on continuing efforts to confront corruption and granting oversight bodies the ability, confidence, and complete freedom to do their work. Especially after the demands of holders of bonds linked to the gross domestic product for a mechanism to restore their rights within any new restructuring.
Ukraine needs a new program because the current agreement was built on the assumption that the war will end by the end of 2025, which is a distant possibility, which requires, as in 2023, Western guarantees to secure the loan, given that the fund does not provide financing to countries witnessing ongoing conflicts.
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