Ukraine and the International Monetary Fund (IMF) have reached staff-level agreements on the second review of the Extended Fund Facility (EFF), which paves the way for receiving a tranche of about USD 900 million. This is reported by the official portal of the IMF.
"The staff of the International Monetary Fund (IMF) and the Ukrainian authorities have reached a staff-level agreement (SLA) on an updated set of economic and financial policies for the second review of the 4-year Extended Fund Facility (EFF). The SLA is subject to approval by the IMF Executive Board," the message says.
The IMF notes that all quantitative performance criteria as of the end of June and indicative targets as of the end of September have been met. In addition, most of the structural benchmarks were also achieved. Accordingly, this opened the way for consideration by the IMF executive board, which would allow the disbursement of about USD 900 million.
"I am pleased to announce that IMF staff and the Ukrainian authorities have reached a staff-level agreement on the second review of the EFF. The agreement is subject to approval by the IMF Executive Board, which is expected to be reviewed in the coming weeks," IMF representative Gavin Gray said after the discussion in Warsaw.
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