Ukraine's PM meets with IMF officials: latest review of Extended Fund Facility set to unlock US$2.2 billion for Ukraine
Ukraine’s Prime Minister Denys Shmyhal has held a meeting with Alfred Kammer, Director of the European Department of the International Monetary Fund (IMF), and a group of IMF officials. The fourth review of the Extended Fund Facility (EFF) for Ukraine is expected to unlock US$2.2 billion for Ukraine. [The EFF provides financial assistance to countries facing serious medium-term balance of payments problems because of structural weaknesses that require time to address – ed.]
Source: Denys Shmyhal on Facebook
Details: "We appreciate this visit ahead of the start of the fourth review of the EFF programme, which will unlock US$2.2 billion," Shmyhal said on Facebook.
He added that the IMF has given Ukraine US$8 billion since the beginning of the full-scale invasion. The IMF is one of the three largest financial aid donors; it also administers the framework that has raised more than US$120 billion for Ukraine.
"During our meeting, we discussed our joint actions with regard to key areas of cooperation. I talked about our government’s efforts to confiscate frozen Russian assets, our plans to restore our energy system and develop a decentralised system, and the ongoing implementation of reforms," Shmyhal said.
"I am confident that the IMF will remain Ukraine’s trusted partner in the future," the Ukrainian prime minister said.
Background:
- A group of International Monetary Fund officials headed by Alfred Kammer, Director of the IMF’s European Department, will hold a series of meetings in Kyiv with Ukrainian officials and other partners starting on 23 May.
- Earlier, it was reported that Ukraine has met all structural benchmarks and other obligations under the IMF’s Extended Fund Facility, which will undergo its fourth review this May.
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