Ukraine received USD 900 million from the International Monetary Fund (IMF) as part of the Extended Fund Facility (EFF) program.
A new IMF tranche for Ukraine
The Ukrainian Ministry of Finance notes that the funds are the result of a successful second review of the EFF program by the IMF Executive Board.
According to Minister of Finance Serhii Marchenko, support from the Fund will help to finance priority expenditures of the state budget timely and ensure macroeconomic stability in martial law conditions.
The EFF program will continue to form a reliable basis for the development of the economic program of the Government of Ukraine on the way to full integration into the EU, he added.
Ukraine has already attracted about 4.5 billion US dollars from the 15.6 billion US dollars provided for in the program.
What is known about the IMF program
On December 11, the IMF Board of Directors agreed to the second review of the program for Ukraine.
The head of the Fund's mission in Ukraine, Gavin Gray, called for Ukraine to develop a National Income Strategy by the end of 2023 to receive the next tranche of the financing program from the IMF.
In addition, the Fund will review the adopted law on the Specialized Anti-Corruption Prosecutor's Office and analyze the implementation of the state budget and the leading macro indicators of 2023.
Since the mid-1990s, Ukraine and the IMF have concluded credit agreements for more than 70 billion dollars.
According to Forbes, over the past 20 years, Ukraine has not been able to implement any of the Fund's six programs. Generally, the Ukrainian governments of different years received only half of this amount.
