The IMF mission agreed on the allocation of a tranche of $1.1 billion to Ukraine. For this, Ukraine fulfilled all quantitative criteria and structural beacons by the end of June.
Points of attention
- Ukraine will receive a new tranche from the IMF in the amount of 1.1 billion dollars by the end of June.
- Fulfillment of quantitative criteria and structural beacons is mandatory for receiving financial support from international partners.
- Restructuring of the Ukrainian debt made it possible to reduce the amount of debt owed to creditors and save money on debt servicing and repayment.
- The agreement of 97% of investors on debt restructuring shows confidence in Ukraine's financial prospects.
- Receiving the tranche helps the Ukrainian government direct resources to the country's defense and cover non-military budget expenditures.
The IMF agreed on the sixth tranche of $1.1 billion for Ukraine
The Prime Minister of Ukraine Denys Shmyhal said that Ukraine has fulfilled all the quantitative criteria and structural beacons necessary to receive the sixth tranche from the IMF in the amount of 1.1 billion dollars at the end of June.
Shmyhal emphasized that these agreements indicate the continuation of important reforms in Ukraine and the support of international partners in this process.
Now the IMF Executive Board must approve the agreement, after which Ukraine will receive $1.1 billion.
The Prime Minister also noted that this was the first IMF mission that fully worked in Kyiv during the full-scale invasion. Financial support from partners helps the Ukrainian government to cover non-military budget expenditures, which allows domestic resources to be directed to the defense of the country.
Ukraine completed debt restructuring
The Ministry of Finance previously reported that Kyiv managed to reduce the amount of debt to creditors and save money on interest, maintenance and debt repayment.
Ukraine agreed with investors to exchange 13 series of government Eurobonds and a series of Ukravtodor Eurobonds for eight new Eurobonds.
The total value of the new Eurobonds is 15.2 billion dollars. The total amount of debt on old Eurobonds, together with capitalized interest, amounted to 24 billion dollars.
97% of investors agreed to debt restructuring.
