IMF allocates US$1.1 billion for Ukraine
The International Monetary Fund (IMF) Board has completed the fifth review of the Extended Fund Facility (EFF) for Ukraine, allocating approximately US$1.1 billion to Ukraine to support the budget.
Source: IMF report
Details: The IMF states that the Ukrainian economy remains resilient, and the implementation of the EFF programme is strong, despite the challenging circumstances. The authorities have met all quantitative performance criteria as of the end of June and completed four structural benchmarks.
In order to ensure macroeconomic stability, restore the sustainability of public finances and debt obligations, and strengthen institutional reforms, Ukraine must maintain a constant momentum of reforms, intensify domestic revenue mobilisation, and ensure timely receipt of external assistance, IMF said.
The US$1.1 billion will be used to cover non-military expenditures, Ukrainian Prime Minister Denys Shmyhal said.
The schedule of tranches for 2025 was also optimised during the review, which will provide more resources to the state budget.
Background:
- The IMF's Board of Directors is scheduled to make a decision on the fifth review of the EFF programme for Ukraine and the allocation of the next tranche on Friday, 18 October.
- The IMF mission agreed to disburse a US$1.1 billion tranche to Ukraine. Additional conditions include tackling tax evasion, resuming the activities of the independent supervisory board of Ukrenergo, Ukraine's electricity transmission system operator, and conducting an audit of the National Anti-Corruption Bureau.
Support UP or become our patron!
