International Monetary Fund to Send Mission to Russia.
The IMF will send an official mission to Moscow for the first Time since Russia's invasion of Ukraine. Starting from September 16, the mission will begin its work online and then travel to Moscow for meetings with Russian officials by October 1. The last visit of the annual IMF mission to Russia took place in November 2019.
The mission will be led by Jacques Miniane from Argentina. Russia's IMF representative Alexei Mozhin, who oversaw Russia's accession to the organization in 1992, plans to retire on November 1 and will assist the IMF mission. He will be replaced by central bank head Ksenia Yudayeva, who is a close associate of central bank head Elvira Nabiullina.
This step by the IMF has elicited mixed reactions, as some Western countries criticize the organization for overly optimistic forecasts regarding the Russian economy and warnings against confiscating frozen Russian assets.
Since the start of the war, some Western member countries have even discussed the possibility of excluding Russia from the IMF, but this has been difficult to implement due to resistance from China and India.
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The IMF team will visit Ukraine next week, Bloomberg reports.
Ukraine plans to continue gradual currency liberalization as part of an updated memorandum with the IMF.
Previously, it was reported that the discussion between the Council of Entrepreneurs and government representatives on tax increases ended inconclusively.
The Cabinet of Ministers approved a draft amendment to the state budget for 2024, which envisages increasing funding for the security and defense sector by 495.3 billion UAH, as well as a draft amendment to the Tax Code, which is expected to increase tax revenues by a total of 138.7 billion UAH. The new bill provides for funding additional military expenses.
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