The general fund of the state budget of Ukraine has received the second tranche of USD 890 million from the International Monetary Fund (IMF).
The funds were received as a result of the successful first review under the Extended Fund Facility (EFF). So far, Ukraine has received USD 3.59 billion from the IMF. Total funding under the EFF arrangement is USD 15.6 billion (SDR 11.6 billion).
“The received financing is the result of effective and coordinated cooperation of the Government of Ukraine, the Ministry of Finance of Ukraine, the National Bank of Ukraine with experts and the management of the IMF within the framework of the Extended Fund Facility. During the review, experts and the IMF management noted the significant progress of the Ukrainian side in fulfilling structural measures and quantitative performance criteria determined under the Program. Thanks to the provided funds, we are able to continue to maintain economic stability in Ukraine and ensure priority expenditures of the state budget,” Minister of Finance of Ukraine Serhiy Marchenko said.
On 29 June, the IMF Executive Board completed the first review under the Extended Fund Facility (EFF) arrangement for Ukraine. During the review, significant progress of the Government of Ukraine in fulfilling its obligations under the EFF was noted. Ukraine met all relevant quantitative performance criteria for April and structural benchmarks at the end of June.