The IMF mission is set to begin its work in Ukraine, outlining its plans and objectives for the country's economic support.

The mission of the International Monetary Fund (IMF) is set to commence on November 11. It will focus on preparing for the sixth review of the program.

This was reported by RBK-Ukraine citing member of the financial committee of the Verkhovna Rada, Yaroslav Zheleznyak, in Telegram.

The deputy noted that, as of now, everything is going well for Ukraine according to the benchmarks, and much has even been completed ahead of schedule.

"It’s interesting how our authorities will explain that the tax law has not been signed for the 28th day... which they promised to partners back in September," Zheleznyak added.

Recall that in 2024, the IMF may allocate another tranche to Ukraine amounting to $1.1 billion based on the results of the sixth review of the $15.6 billion program for 2023-2027.

Last week, NBU head Andriy Pyshny stated, "the intensity of interaction with the IMF resembles a sprinting pace on a marathon distance - the next mission will soon be operational." He mentioned that the NBU is fully prepared for the sixth review of the program.

It is worth noting that in October, the IMF updated the baseline and negative scenarios for Ukraine's economy depending on the duration and intensity of the war. According to the baseline scenario, the war is expected to end by late 2025. Previously, the IMF anticipated its conclusion by the end of 2024.

The negative scenario suggests more intense combat actions and the war concluding in mid-2026, which would result in an economic downturn in 2025 and stagnation in the subsequent years.

The revised aggregate financing gap in the downturn scenario is estimated at $187.1 billion, which is $35.7 billion higher than the baseline forecast for 2023-2027 ($151.4 billion), necessitating additional measures to ensure debt sustainability.

In October, Ukraine received a tranche of $1.1 billion from the IMF. This marks the third tranche from the IMF since the beginning of the year. In March, Ukraine received $900 million, and in July, $2.2 billion. The total amount received since the start of the year has reached $4.2 billion.

The Verkhovna Rada adopted a law to increase taxes in Ukraine on October 10. However, the law has yet to be signed by the president.