Kyiv: The International Monetary Fund (IMF) announced Wednesday that a staff agreement has been reached with Ukraine on a new 48-month $8.2 billion program. The fund revealed that an IMF delegation engaged in discussions with Ukrainian officials from November 17 to 21 following Ukraine's request for a new program.

According to Anadolu Agency, the IMF stated in a release that its staff and Ukrainian authorities have concluded a staff-level agreement on a series of macroeconomic and structural policies. These policies could potentially be supported by a new 48-month arrangement under the Extended Fund Facility (EFF).

The fund emphasized that Russia's ongoing war is severely impacting Ukraine's populace and economy. Despite this, Ukrainian authorities are determined to maintain macroeconomic stability and restore debt sustainability and external viability. They are also committed to addressing informality, combating corruption, and enhancing governance, particularly in the state-owned enterprise sector.

The IMF highlighted its ongoing commitment to engagement with Ukraine, noting that a new program might be presented to the IMF's Executive Board for approval following the completion of prior actions and contingent upon securing adequate financing assurances from donors.

The fund also expressed its support for all initiatives aimed at achieving a lasting peace and indicated that the program would be adjusted as necessary at each review, depending on the progress made towards resolving the conflict.