Ukraine receives $500 million from IMF to fund urgent priorities
Photo: Denys Shmyhal, Prime Minister of Ukraine (Vitalii Nosach/RBC-Ukraine)
Ukraine, as part of the ninth tranche, has received $500 million from the International Monetary Fund (IMF), Denys Shmyhal, Prime Minister of Ukraine, reports.
According to Shmyhal, the funds will be used to cover priority budget needs.
"This is the result of the eighth review of the EFF (Extended Fund Facility - ed.) cooperation program. At this point, under the program, the Fund has already provided Ukraine with $10.6 billion," the Prime Minister of Ukraine added.
EFF program review
At the end of February, Ukraine and the International Monetary Fund reached a staff-level agreement on the seventh review of the Extended Fund Facility program.
In mid-May, an IMF mission began discussions in Kyiv with representatives of the Ukrainian authorities regarding the eighth review of the EFF.
Overall, for the current year, the IMF EFF program provides up to $2.3 billion for Ukraine. The first $400 million was transferred to the state budget in March of this year.
