A team of the International Monetary Fund arrived in Kyiv. IMF representatives will hold meetings in Kyiv with representatives of the Ukrainian authorities and other partners on strengthening Ukraine's capabilities.
What is the purpose of the arrival of the IMF mission
The permanent representative of the International Monetary Fund, Vahram Stepanyan, stated that the discussions will focus on the economic policy goals of the Ukrainian authorities and the challenges facing Ukraine's economy.
The IMF team will also take part on February 13 in the inaugural meeting of the steering committee of the Fund for the Development of Potential of Ukraine, which is administered by the IMF. At this meeting, priorities for strengthening Ukraine's capabilities and support from the International Monetary Fund will be discussed, the statement said.
After that, on February 17 in Warsaw, the IMF mission led by Gavin Gray will start discussions with representatives of the Ukrainian authorities in the context of the third review of the extended financing program.
What is known about the IMF program for Ukraine
On March 31, the IMF's Executive Board approved a four-year Extended Financing Facility (EFF) program of $15.6 billion for Ukraine.
Funds from the International Monetary Fund will help finance all critical expenditures and maintain macro-financial stability.
On September 25, the IMF mission began working in Warsaw to prepare the second review of the EFF's extended financing program.
On March 31, 2023, the Board of Executive Directors of the International Monetary Fund approved the four-year "Enhanced Financing Mechanism" program for Ukraine in the amount of about $15.6 billion. This program is part of the overall package of support for Ukraine by international partners in the amount of $115 billion.
In June 2023, Ukraine successfully passed the first review of the program, fulfilling all the commitments undertaken on time. Within the program's framework, two tranches with a total amount of about $3.6 billion have already been received. With the successful implementation of the program, Ukraine may receive another tranche this year, and the total amount of funding received will increase to $4.5 billion.
On November 6, the mission of the International Monetary Fund began its work on the second review of Ukraine's implementation of the Enhanced Financing Mechanism program.
On December 11, the IMF approved a review of the program for Ukraine, which will allow providing a tranche of about $900 million.
