Ukraine to receive IMF tranche of $1.1 billion
Photo: Prime Minister Denys Shmyhal (Vitalii Nosach, RBC-Ukraine)
The Executive Board of the International Monetary Fund has completed the sixth review of the EFF program. In a few days, Ukraine will receive a tranche of $1.1 billion under the program, according to the press service of the IMF and Prime Minister of Ukraine Denys Shmyhal.
The IMF Board of Directors today finalized the sixth review of the Extended Arrangement under the Extended Fund Facility (EFF) for Ukraine. This will allow Ukraine to disburse about $1.1 billion in budget support.
"Ukraine’s economy remains resilient, and performance remains strong under the EFF despite challenging conditions. The authorities met all end-September quantitative performance criteria and structural benchmarks," the press service says.
Shmyhal clarified that the funds will be used to finance important budget expenditures.
"This will bring the total disbursements under the IMF-supported program to US$9.8 billion".
The National Bank of Ukraine also noted that the IMF release highlighted Ukraine's effective implementation of the EFF program despite the challenging conditions of the war. Specifically, Ukraine has met all structural benchmarks for the sixth review and has already achieved three structural benchmarks.
"We are grateful to our partners at the IMF for their continued support and constructive cooperation. Thanks to this strong collaboration, we have managed to significantly reduce uncertainty regarding the adequacy and timeliness of international financial assistance to Ukraine in 2025," commented National Bank of Ukraine Governor Andriy Pyshnyi.
Earlier, we reported that Ukraine's agreement with the IMF for a $15.6 billion EFF program was approved in March 2023. Under this program, six tranches totaling approximately $8.7 billion have already been received.
It is also worth noting that the IMF, in the October memorandum, adjusted its forecast regarding the duration of the war in Ukraine and support from partners. The IMF now expects the war to end by late 2025, with Ukraine requiring $151.4 billion in financial assistance from 2023 to 2027.
