IMF Approves New $1.1 Billion Tranche for Ukraine

The Executive Board of the International Monetary Fund has decided to allocate the next tranche of $1.1 billion to Ukraine, following a meeting on Friday on the sixth review of the current IMF programme. 

This is stated in an official IMF statement, Ukrinform reports.

‘The IMF Executive Board today completed the sixth review of the Extended Fund Facility (EFF) for Ukraine, approving the allocation of about $1.1 billion to Ukraine to support the budget,’ the Fund said. 

The EFF programme has been well performing, with Ukraine's economy remaining resilient despite the challenging environment in the country. The authorities have met all quantitative performance criteria and structural benchmarks as of the end of September, the Fund stressed.

‘Russia's war continues to cause devastating social and economic damage to Ukraine. However, despite the war, macroeconomic stability is maintained thanks to the skilful policy of the Ukrainian authorities and significant external support,’ said IMF Managing Director Kristalina Georgieva.

At the same time, the IMF points out the need to ensure a sustainable reform momentum and progress in mobilising domestic revenues in Ukraine, as well as the importance of timely disbursement of external support. This is necessary to preserve macroeconomic stability, restore fiscal and debt sustainability, and improve governance in our country.

With the current tranche, the total disbursement under the EFF programme for Ukraine has reached $9.8 billion.