Ukraine secures $1.5 billion from IMF under new $8.1 billion program
Photo: Yulia Svyrydenko (Getty Images)
Ukraine has received the first tranche of financial assistance from the International Monetary Fund totaling $1.5 billion. The funds will be directed toward priority budget expenditures, according to Prime Minister Yulia Svyrydenko.
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"Today, Ukraine received the first tranche from the IMF under the new four-year program within the Extended Fund Facility mechanism. $1.5 billion has been credited and will be used to finance priority budget expenditures and support macrofinancial stability," Svyrydenko said.
According to her, the total volume of the program amounts to $8.1 billion. Overall, since the start of the full-scale war, Ukraine has attracted $14.9 billion in financial support from the IMF to the state budget.
"We continue implementing the agreed reforms aimed at preserving macroeconomic stability, strengthening state institutions, and advancing the course toward European integration," the prime minister added.
New IMF program for Ukraine
Earlier, the Executive Board of the International Monetary Fund approved a new $8.1 billion financing program for Ukraine.
The prime minister also previously stated that the IMF had scrapped earlier conditions tied to the new loan program. These included requirements related to VAT for sole proprietors, customs duties on parcels, taxes for digital platforms, and the military levy.
At the same time, under the new financing program, the IMF requires Ukraine to adopt a number of tax changes. The deadline for Kyiv is the end of March.
