Ukraine receives 3rd IMF tranche worth USD 900 million

Ukraine received the third tranche of financing in the amount of about USD 900 million (SDR 663.9 million) from the International Monetary Fund (IMF) as part of the Extended Fund Facility (EFF) program.

This follows from a statement by the Ministry of Finance, the Ukrainian News agency reports.

On December 11, the IMF Executive Board completed the second review of the Enhanced Financing Facility program for Ukraine.

Thus, Ukraine has already attracted about USD 4.5 billion out of USD 15.6 billion (11.6 billion in Special Drawing Rights) provided for in the program.

As the Ukrainian News agency earlier reported, the decision of the IMF Board of Directors regarding the first review of the program was preceded by a Staff-Level Agreement reached on November 10, 2023.

On March 31, 2023, the Board of Executive Directors of the International Monetary Fund approved the four-year program "Extended Financing Mechanism" for Ukraine.

The program envisages measures to support fiscal, external, price, and financial stability and economic recovery in a period of high uncertainty, as well as to improve corporate governance and strengthen state institutions with the aim of post-war reconstruction and Ukraine's acquisition of EU membership.

The EFF program is implemented in two stages (war and post-war) and provides access to credit funds from the IMF in the amount of SDR 11.6 billion (equivalent to USD 15.6 billion).

Tranches under the program are provided based on the results of quarterly reviews.

The total amount of financing from the IMF that Ukraine will receive this year will increase to SDR 3.3 billion (USD 4.5 billion equivalent) thanks to the successful second review of the program.