Ukraine received $1.1 billion from the International Monetary Fund. The funds will be used to cover important budget expenditures of a non-military nature.
Points of attention
- Ukraine received $1.1 billion from the IMF to cover non-military budget expenditures.
- This is already the third tranche of the IMF in 2024, the total amount reached 4.2 billion dollars.
- The program of cooperation with the IMF provides for a loan of 15.6 billion dollars for Ukraine for urgent financing before victory in the war and post-war reconstruction.
- The renewed appeal to the IMF for a new tranche of $1.1 billion underscores the importance of cooperation for the country's financial stability.
- Ukraine and the IMF began negotiations on the fourth revision of the extended financing program, which indicates the successful implementation of the previous stages of cooperation.
Ukraine received a tranche from the IMF
We received this tranche thanks to the successful fifth revision of the EFF program in the amount of 15.6 billion dollars.
Denis Shmyhal
Prime Minister of Ukraine
Denys Shmyhal noted that the funds will be used to cover non-military budget expenditures.
Shmyhal added that the government is already starting joint work with the IMF on the next round of revising the financing program.
This is already the third IMF tranche since the beginning of the year. In March, Ukraine received $900 million in March and $2.2 billion in July. The total amount since the beginning of the year reached 4.2 billion dollars. Another tranche of $1.1 billion is expected in December.
What is important to know about the program of cooperation with the IMF "Extended financing mechanism"
On March 31, the Executive Board of the IMF approved a four-year extended financing program under the Extended Fund Facility (EFF).
The Fund emphasizes that it is a loan of 15.6 billion dollars for Ukraine.
As mentioned earlier, the program consists of two parts: urgent funding to win the war; post-war reconstruction.
The loan is the first major package approved by the IMF for a country at war. For the past year, 2023, Ukraine has already attracted about 4.5 billion dollars out of this 15.6 billion dollars. In May 2024, Ukraine and the IMF began negotiations on the fourth revision of the extended financing program.
We remind you that in June 2024, a new tranche of $2.2 billion was allocated to Ukraine.
