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Ukraine receives IMF tranche

Ukraine receives IMF tranche Photo: Denys Shmyhal, Prime Minister of Ukraine (Vitalii Nosach / RBC-Ukraine)

Prime Minister Denys Shmyhal announced that Ukraine received a new tranche from the International Monetary Fund of $2.2 billion under the 2023-2027 program, which amounts to almost $16 billion.

"The transferred amount will help the government in financing critical budget expenditures, social assistance, salaries for doctors and teachers," he wrote.

IMF program

Ukraine's agreement with the IMF on the EFF program for $15.6 billion was approved in March 2023. Five tranches totaling about $7.6 billion have already been received within the program, including $900 million in March and the latest tranche of $2.2 billion in July. In 2024, Ukraine expects to receive two more tranches of $1.1 billion each (in October and December).

The latest tranche was received following the IMF Board of Directors' decision made on June 28.

As a result, the total international aid to Ukraine since the beginning of the year has reached $16 billion.

Under the program, Ukraine also received political commitments from partners to allocate $122 billion by 2027. At the same time, the IMF developed a negative scenario for Ukraine's economy in the event of a protracted war. In this case, Ukraine's total financing will increase to $140.7 billion.

During the war, all taxes collected in Ukraine are used for military needs. Social expenditures are financed through international aid.