Ukraine Secures Fourth IMF Tranche of $880 Million for Budgetary Needs
Ukraine has received the fourth tranche of financing amounting to around $880 million from the IMF under the Extended Fund Facility (EFF) program. The disbursement of these funds was approved by the Board of Directors of the International Monetary Fund four days ago. This brings Ukraine's total funds raised to about $5.4 billion out of the program's planned $15.6 billion, as reported on the website of the Cabinet of Ministers of Ukraine.
According to Ukrainian Prime Minister Denys Shmyhal, the received funds will help cover priority budget expenditures and support macroeconomic stability in the country.
"Ukraine continues to successfully fulfil its commitments to its partners. We are already preparing for the next program review. Grateful to the IMF for their support and cooperation!" emphasized Denys Shmyhal.
Finance Minister of Ukraine Serhiy Marchenko stated that the tranche will help maintain financial stability in Ukraine.
"After the third review, we continue to actively work on implementing jointly agreed reforms to ensure macroeconomic stability, strengthen public governance, support recovery efforts, and ultimately, Ukraine's European integration," noted Serhiy Marchenko.
It is worth mentioning that on March 31, 2023, the IMF Executive Board approved a four-year Extended Fund Facility program totalling $15.6 billion for Ukraine.
The Gaze previously reported that Canada provided Ukraine with a $1.5 billion loan for social payments.
"These critically important funds will help our government finance the deficit, including social assistance programs for Ukrainians. The total amount of financial support from Canada to the Ukrainian budget since the start of Russia's full-scale aggression is nearly $7 billion Canadian dollars," said Denys Shmyhal.
Additionally, the Canadian government announced allocating over $40 million for the Czech initiative to procure large-calibre ammunition for Ukraine, allowing for the delivery of several thousand artillery shells. This commitment follows the signing of a Canadian-Czech Memorandum of Understanding on defence cooperation last month, establishing the framework for defence collaboration between Canada and the Czech Republic, including support for Ukraine.