Ukraine Braces for IMF Push to Devalue Currency, Cut Rates
- Fund is meeting officials this week in Kyiv to review loan
- Ukraine needs to raise funds to help narrow budget gap
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Ukrainian officials are preparing for the International Monetary Fund this week to push it to devalue its currency faster, cut interest rates and strengthen its tax-raising efforts to fill the country’s budget gap, according to people familiar with the situation.
IMF staff visiting Kyiv are expected to pressure the war-torn country to pursue those steps to continue receiving financial support, as they undertake a scheduled review of a $15.6 billion loan program, Ukrainian officials with the knowledge of the topic said after preliminary discussions with the fund. They spoke before the meetings began on Wednesday and asked not to be identified as the talks are private.