The Board of Directors of the International Monetary Fund (IMF) completed the fourth review of the Extended Fund Facility (EFF) for Ukraine and decided to provide about USD 2.2 billion, which will be directed to budget support for Ukraine.
This is stated in the statement of the IMF.
"Despite the difficult conditions, Ukraine's performance under the EFF program remains high. All performance criteria at the end of March were met, and all structural beacons at the end of June were met on time or slightly late.
The Ukrainian economy continues to remain resilient, although the outlook remains extremely uncertain. A sustained momentum of reforms and timely provision of external support are necessary to preserve macroeconomic stability, restore fiscal and debt stability, as well as strengthen institutional reforms to pave the way to joining the EU," the IMF said.
It is noted that with a tranche of USD 2.2 billion, the total amount of payments under the program will reach about USD 7.6 billion.
The EFF program for Ukraine for a period of 48 months with the right of access to 11.6 billion SDRs (equivalent to USD 15.6 billion) was approved on March 31, 2023, the IMF reminded.
"Russia's invasion of Ukraine continues to have a devastating socio-economic impact on Ukraine. Despite the war, macroeconomic and financial stability is maintained thanks to the skillful policies of the Ukrainian authorities, as well as significant external support. The economy remains stable, reflecting the constant adaptability of households and companies.
Looking ahead, the pace of recovery is expected to slow, especially given the attacks on Ukraine's energy infrastructure, as well as the high risks associated with the extremely high level of uncertainty caused by the war. Vigilance to these risks is necessary in order to respond in time to shocks if they materialize," the statement said.
As Ukrainian News Agency earlier reported, in April, the second tranche of transitional financing in the amount of EUR 1.5 billion was received by the state budget of Ukraine in accordance with the European Union's Ukraine Facility.
Also, Ukraine and the European Union signed an Agreement with a total volume of EUR 27 billion for 2024-2027 within the framework of the Ukraine Facility.
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