From Ukrenergo to Digital Banking: IMF Publishes Updated Memorandum for Ukraine.

Deputy Chairman of the Tax Committee Yaroslav Zheleznyak reported on the reform plan from the IMF for the first half of 2025. According to him, an updated memorandum with the IMF already exists, and 33 out of 50 milestones have been completed. The new memorandum includes a reform plan for the next year, including an assessment of the NCSSMR's work and the registration of a bill to reduce 'third-party risks'. It also specifies deadlines for implementing reforms by the end of January, February, April, and June 2025.

IMF Reform Plan for 2025

By the end of January 2025:

• Amendments to the Budget Code to review all state investment projects.
• Assessment of the NCSSMR's work.

By the end of February 2025:

• Approval of the methodology for assessing state investment projects.
• Selection of a new director of the State Bureau of Investigation.
• Publication of the results of NABU's audit.

By the end of April 2025:

• Registration of a law on tax reporting for digital platform operators.
• Registration of a bill to reduce 'third-party risks'.

By the end of June 2025:

• Appointment of the head of the State Customs Service and heads of regional customs offices.
• Submission of the budget declaration according to approved parameters with the IMF.

Zheleznyak emphasized that there are still 6 milestones to be completed by the end of the year for the next program review. In particular, these include the formation of the supervisory board of Ukrenergo, reform of the Accounting Chamber, rehabilitation of banks, risk assessment in the banking sector, the repeal of the 'Lozovoy amendments', and the establishment of a new administrative court. The last two points may pose problems and were not taken into account in the current review.

The IMF provided Ukraine with a billion-dollar tranche.