Ukraine expects over $1 billion from IMF by end of December
Photo: Ukrainian officials meet with the IMF mission (t.me/Denys_Smyhal)
The International Monetary Fund will provide Ukraine with $1.1 billion, with the payment expected by the end of December, according to Ukrainian Prime Minister Denys Shmyhal.
The Prime Minister shared that he had a meeting with the IMF team and thanked them for continuing their mission in Kyiv.
"We successfully completed the fifth review of the EFF program at the end of October. We met all the structural benchmarks for the sixth review. Based on the current mission, we expect to receive the next tranche of $1.1 billion by the end of December," Shmyhal said.
He also noted that during the meeting, they discussed the further implementation of reforms outlined in the IMF cooperation memorandum, and the Fund highly evaluated Ukraine's progress.
The sides also touched upon micro-financial issues and Ukraine's need for external funding.
Fifth EFF Program review
On October 18, it was reported that the IMF Executive Board approved the fifth review of the EFF program, which will allow Ukraine to receive approximately $1.1 billion.
As Shmyhal clarified, the funds will be directed to important budget expenditures unrelated to defense.
