Ukraine has received a $880 million tranche from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) Arrangement, according to Prime Minister Denys Shmyhal. This marks the third tranche of financial assistance, aimed at covering priority budget expenditures and maintaining macro-financial stability amid the ongoing Russian invasion.
The funds come as Ukraine continues to fulfill its commitments to partners and prepares for the next review of the program. The four-year EFF Arrangement, totaling $17.5 billion, has been a core element of the Ukrainian Finance Ministry’s plan to stabilize the country’s economy and lay the basis for its recovery since 2016.
Within the EFF framework, Ukraine has finalized substantial changes in the energy and banking sector, as well as measures to increase the National Bank of Ukraine’s reserves, stabilize the country’s balance of payments, and implement overdue reforms, as per Ukrinform. The EFF is designed to help Ukraine overcome structural problems in its economy and enhance its financial position.
The receipt of the $880 million tranche will aid Ukraine in covering priority budget expenditures and maintaining macro-financial stability, providing a boost to the country’s economic recovery efforts. Ukraine expressed gratitude to the IMF for its support and cooperation, highlighting the importance of continued partnership in achieving economic stability and growth.
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