The Ukrainian side complied with all structural benchmarks and all quantitative performance criteria, except one, according to the fund
Negotiations between the International Monetary Service mission and representatives of Ukraine were concluded in Warsaw. As a result, a decision was reached on the third revision of the Extended Fund Facility (EFF) program in the amount of approximately $900 million. This was reported yesterday by the press service of the fund.
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“I am pleased to announce that the IMF staff and the Ukrainian authorities have reached a staff-level agreement on the third revision of the EFF program. The agreement is subject to the approval of the IMF Executive Board, which is expected to be reviewed in the coming week,” said Gavin Gray, head of the IMF’s mission in Ukraine.
The fund noted that with all structural benchmarks and all but one quantitative performance criteria met, IMF staff assesses the program as fully completed.
This will pave the way for an Executive Council review that will pay about $880 million (SDR 663.9 million), it said.
It is stated that in 2023, the Ukrainian economy experienced positive dynamics of high growth rates, lower inflation and strengthened reserves, but the prospects for 2024 remain highly uncertain due to the war.
Let’s recall that in March 2023, the IMF approved a four-year Extended Fund Facility (EFF) program for Ukraine with access to approximately $15.6 billion (11.6 billion special drawing rights). It is part of an international support package for Ukraine worth $122 billion until the beginning of 2027.
As you know, on December 14, 2023, Ukraine received $900 million from the IMF. This is the third tranche under the current EFF program.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.