Ukraine May Receive Another $690 Million from the IMF: Financing Program Review Approved
The International Monetary Fund and Ukraine have reached an agreement at the expert level on the first review of the four-year Extended Fund Facility (EFF) program.
After the review results are approved by the IMF Board of Directors, Ukraine will be able to receive the next tranche of about 690 million US dollars (503 million SDR).
The provision of funds will increase the total amount of financing received by Ukraine under the EFF program to 2.2 billion dollars out of the 8.1 billion dollars envisaged by the program.
Following the review, the parties also agreed on an updated reform implementation schedule, corrective measures to address identified deviations, and additional commitments in economic policy necessary for the further execution of the program.
The IMF reported that all quantitative performance criteria and indicative targets as of the end of March were met. At the same time, two structural benchmarks planned for the first quarter were implemented with delays, and one was not met, which became the basis for revising the reform schedule.
The Fund emphasized that the prospects for the Ukrainian economy remain extremely uncertain due to the ongoing war, which continues to cause significant harm to the population and the country's economy. At the same time, the EFF program is currently fully funded thanks to substantial and stable international support for Ukraine.
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