The Board of Directors of the International Monetary Fund approved the third revision of the EFF's extended financing program.
Ukraine will receive a new tranche from the IMF
According to PM Denys Shmyhal, Ukraine is waiting for the next tranche of financial support, which will be about 880 million dollars.
The head of government emphasised that the approval of the third revision of the program resulted from Ukraine's fulfilment of its obligations to its partners.
We are waiting for the next tranche of financial support, which will be about 880 million dollars. These funds will cover the most important budget expenditures and help us maintain macro-financial stability.
Denis Shmyhal
Prime Minister of Ukraine
The Ministry of Finance noted that Ukraine had fulfilled all four structural beacons foreseen for the third review:
the National Revenue Strategy was adopted;
a road map of state investment management was developed;
measures have been developed to mobilise the revenues of the state budget in 2024 under the condition of such a need;
legislation was adopted to strengthen the institutional autonomy and effectiveness of the SAP.
In general, within the framework of the IMF EFF program, the state budget of Ukraine has already received three tranches with a total amount of about 4.5 billion dollars. In 2024, the program provides for 5.4 billion dollars of budgetary aid to Ukraine.
What is known about the IMF program for Ukraine
Ukraine's EFF agreement with access to $15.6 billion was approved on March 31, 2023.
On December 11, 2023, the IMF Board of Directors approved the second review of the EFF program with Ukraine and allocated a tranche of $900 million under the program for 2023-2027.
The IMF also published an updated memorandum containing voluntary commitments by the country's authorities to take specific steps.
Ukraine's President Volodymyr Zelenskyy, Prime Minister Denys Shmyhal, Minister of Finance Serhii Marchenko, and NBU Chairman Andriy Pishnyi signed the memorandum with the IMF.
Ukraine received political commitments from partners to provide $122 billion by 2027.
