Ukraine and the International Monetary Fund (IMF) are approaching an agreement on the payment of $900 million in connection with the termination of aid from the United States.
The IMF may provide Ukraine with a $900 million tranche shortly
According to the publication, Ukraine and the IMF representatives hope to reach an agreement with the fund's representatives this week. Still, final approval is required from the executive board of the IMF.
This payment is considered as a back-up plan in the event that financial support from the US is not available.
It is planned that this will be the first of four payments that Ukraine expects this year, totalling $5.4 billion.
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.
President of Ukraine Volodymyr Zelenskyi, Prime Minister Denys Shmyhal, Minister of Finance Serhii Marchenko, and NBU Chairman Andriy Pyshnyi signed the memorandum with the IMF.
Ukraine received political commitments from partners to provide 122 billion dollars by 2027. The IMF is expected to provide Ukraine with more than 5 billion dollars in 2024.
