Ukraine will receive almost $690 million from the IMF in the coming days: what is known

The Executive Board of the International Monetary Fund has completed the first review of the new program for Ukraine under the Extended Fund Facility (EFF). This opens up the possibility for Ukraine to receive another tranche of financial assistance in the coming days in the amount of about 690 million US dollars.

Prime Minister of Ukraine Serhiy Koretsky announced this on July 21.

According to him, after the receipt of funds, the total amount of financing received by Ukraine under the new EFF program will reach approximately 2.2 billion US dollars.

“All quantitative performance criteria and indicative program targets as of the end of March have been met,” the head of government noted.

The Prime Minister also emphasized that the government will continue to implement the reforms agreed with international partners and plans to accelerate their implementation.

Before making the decision, the IMF mission conducted the first review of the program implementation in Ukraine. The negotiations began on May 27 and concerned Ukraine’s implementation of its commitments under the Extended Fund Facility.

Earlier, it was also reported that Head of the Presidential Office Kyrylo Budanov, during a meeting with representatives of the IMF mission, stressed Ukraine’s readiness to continue structural reforms and fulfill the terms of cooperation with international financial partners.

Recall that in March of this year, Ukraine received the first tranche under the new four-year EFF program. The total volume of the program, which the IMF Board of Directors approved in February, is 8.1 billion US dollars. Its implementation is designed to support the country’s macro-financial stability, ensure structural reforms, and promote the restoration of the Ukrainian economy in wartime conditions.