Ukraine has received the ninth tranche of financial assistance from the International Monetary Fund amounting to $500 million, which will be directed towards covering the urgent needs of the state budget. This was announced by Prime Minister Denys Shmyhal.
This is reported by Kyiv24
Details of cooperation with the IMF and the EFF program
The payment became possible after the completion of the eighth review of the Extended Fund Facility (EFF) cooperation program for Ukraine. According to the head of the government, within the framework of this program, the total amount of funding that Ukraine has already received from the IMF has reached $10.6 billion.
“This is the result of the eighth review of the EFF cooperation program. Currently, within the program, the Fund has already directed $10.6 billion to Ukraine,” Shmyhal wrote on Telegram.
The IMF noted that the Board of Directors completed the eighth review of the EFF program, which allowed for the allocation of another tranche for budget support to Ukraine. The Fund emphasized that the Ukrainian economy is demonstrating resilience, and the authorities have met all quantitative performance criteria as of the end of March, as well as carried out all necessary prior actions and achieved the implementation of structural benchmarks for the review.
Conditions and volumes of the EFF program for Ukraine
It is worth noting that the EFF program for Ukraine was approved by the IMF on March 31, 2023, for a duration of 48 months with a total funding volume of about $15.5 billion. This program is part of a broader international support package that provides for $152.9 billion for Ukraine.
It should be noted that on May 20, the IMF announced the start of another review of the EFF program in our country, which allowed for further financial resources to stabilize the economy and fulfill the government’s social obligations.