IMF Mission Begins Work in Ukraine's Capital

The International Monetary Fund mission has started meetings in Kyiv today with representatives of the Ukrainian authorities and other partners. According to Ukrinform, this statement was made by IMF Resident Representative Vahram Stepanyan, according to an IMF press release.

‘The IMF team, led by Uma Ramakrishnan, Deputy Director of the IMF's European Department, is starting meetings with Ukrainian authorities and other partners in Kyiv today,’ the statement said.

During today's meeting with IMF Mission Chief Gavin Gray, Finance Minister Serhii Marchenko discussed preparations for the fifth review of the four-year Extended Fund Facility (EFF) programme and budget financing in 2024 and 2025, the press service of the Ministry of Finance of Ukraine reports.

Following these meetings, on 17 February, an IMF mission led by Gavin Gray will begin discussions with Ukrainian authorities in Warsaw in the context of the third review of the IMF-supported Extended Fund Facility programme.

This year, the IMF is the second-largest source of external budget support, with USD 3.1 billion. In total, the state budget has already received USD 7.6 billion under the programme.

The next IMF mission in preparation for the fifth review of the EFF programme will begin in September. As a result of the successful review of the programme, Ukraine will receive the next tranche of about USD 1.1 billion from the Fund.

As reported, in December 2023, Ukraine received the third tranche of funding in the amount of about USD 900 million (SDR 663.9 million) from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) programme.