The IMF noted the need to further strengthen corporate governance of state-owned enterprises in Ukraine, in particular, the immediate appointment of the head of LLC "Gas Transportation System Operator of Ukraine" (OGTSU) and the completion of the formation of the Supervisory Board (SB) of JSC "NNEK "Energoatom".

This is stated in the updated EFF Extended Fund Facility for Ukraine after the eighth review, which the IMF published on its website on the night of July 1, Energoreforma reports.

"The IMF welcomes the appointment of the new CEO of Naftogaz to its supervisory board, while the supervisory boards of UGTSU and Ukrenergo (the chairman of the board was appointed on July 1. - Ed.) should also immediately appoint a new head in accordance with OECD standards," the updated IMF program states.

The document also indicates that the independent assessments of the supervisory boards of OGTSU, Naftogaz, and Ukrenergo were finally agreed upon by the end of May, and all three boards of directors are currently implementing the recommendations.

"In particular, it will be important to preserve the achievements of Ukrenergo's corporate governance since the end of last year so that the supervisory board has full operational capacity and can act independently in accordance with OECD principles (Organization for Economic Co-operation and Development. - Ed.)," the program states.

At the same time, according to the document, the Ukrainian authorities undertake to quickly elect a fifth member of the supervisory board of NNEGC Energoatom in accordance with OECD standards and expand its composition to seven members in accordance with the macro-criticality of this state-owned enterprise and the tasks of the NP itself.

For reference. On April 29, Serhiy Koretsky, who previously headed PJSC Ukrnafta and PJSC Ukrtatnafta, was elected the new Chairman of the Board of NJSC Naftogaz of Ukraine. He took office on May 14, 2025.

The current members of the Energoatom Supervisory Board are Chairman Jarek Neverovich and Deputy Michael Elliott Kirst, as well as state representatives Timofiy Mylovanov and Vitaliy Petruk. The third independent member of the Supervisory Board, Timothy Stone, refused to sign the contract.

On June 23, the Supervisory Board of NPC Ukrenergo elected its Chief Dispatcher and Board Member Vitaliy Zaichenko as the Chairman of the Company's Board; he took office on July 1.

In May, the Ministry of Energy amended the Ukrenergo charter, according to which the National Assembly should elect the chairman of the board not by a simple, but by a qualified majority of votes, i.e. by at least five votes. This caused negative assessments, in particular, by the EBRD. After that, the changes to the charter were adjusted and provided for a simple majority of votes after two inconclusive qualified majority votes. However, Zaichenko was elected unanimously on the first attempt after the changes to the charter.

At the same time, changes regarding qualified majority voting were also made to the charter of the OGTSU. The competition for the position of the head of the society is ongoing, and the application period ended on March 31.

As Ukrainian Energy reported, the IMF has maintained its forecast for Ukraine's GDP growth in 2025 at 2-3%. At the same time, the International Monetary Fund (IMF) emphasizes that due to the continuation of the war, the prospects for Ukraine's economic growth are "extremely uncertain."