IMF allocates another tranche of US$880 million to Ukraine

The IMF Executive Board has held a meeting on the third review of the Extended Fund Facility (EFF) for Ukraine and approved the disbursement of the next tranche within the programme in the amount of US$880 million.

Source: Ukrinform with reference to Gavin Gray, IMF mission chief for Ukraine, at a press conference in Washington 

Quote: "The IMF Executive Board today completed the third review of the EFF programme for Ukraine. This will allow for a tranche of about US$880 million."

Details: Gray noted that, thus, taking into account the new package and previous tranches, Ukraine will receive US$5.4 billion within the programme.

Gray said that the new funding package could be transferred to Ukrainian accounts within the next two to three days.

He stressed that the Ukrainian side had met all but one of the quantitative performance criteria and benchmarks set out in the review.

He also noted that the Ukrainian economy demonstrated remarkable resilience in 2023 despite martial law, although certain war-related challenges remain.

The IMF also stressed the need for Ukraine to maintain a steady reform momentum. This is important primarily for maintaining macroeconomic stability; restoring fiscal and debt sustainability; strengthening institutional reforms, and laying the groundwork for reconstruction efforts and European integration.

Background:

• The IMF's programme for Ukraine under the Extended Fund Facility (EFF) was approved by the Fund on 31 March 2023. It is designed for four years and provides a total of US$15.6 billion to Ukraine.

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