Ukraine to receive $500 million from IMF
Photo: Denys Shmyhal, Prime Minister of Ukraine (Vitalii Nosach, RBC-Ukraine)
The International Monetary Fund has completed the eighth review of its cooperation program with Ukraine. This will allow Ukraine to receive half a billion dollars, according to the Prime Minister of Ukraine, Denys Shmyhal, and the press service of the Ministry of Finance of Ukraine.
"The IMF Executive Board has completed the Eighth Review of the Extended Arrangement under the EFF for Ukraine. We will soon receive the ninth instalment of the Fund, amounting to 500 million dollars. We will use the funds to cover priority budget expenditures," Shmyhal said.
He clarified that under the Extended Fund Facility (EFF) program, Ukraine has already received over $10 billion. This support contributes to Ukraine’s resilience and macro-financial stability.
What the Ministry of Finance says
The Ministry of Finance of Ukraine noted that the IMF has recognized Ukraine’s progress in meeting the conditions of the EFF program. Performance indicators remain high despite the ongoing war. Ukraine has fulfilled two structural benchmarks:
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Legislative amendments have been submitted to Parliament to introduce tax reporting requirements for digital platform operators;
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The results of the external audit of the National Anti-Corruption Bureau of Ukraine (NABU) have been published.
Financial aid from Canada
Also on June 30, it was announced that Canada provided Ukraine with approximately $1.7 billion.
These funds come from revenues generated by frozen Russian assets.
