Now the next step is the procedure for reviewing the agreements by the Board of Directors of the International Monetary Fund.
Ukraine and the International Monetary Fund agreed at the staff level on the fifth revision of the four-year cooperation program, which paved the way for the release of the sixth loan tranche in the amount of $1.1 billion. This was announced by the head of the National Bank Andrey Pyshny on Facebook on Wednesday, September 11.
“We have reached a staff-level agreement (SLA) with the IMF mission in Ukraine,” he wrote.
The mission worked in Kyiv from September 4 to 10. On September 11, the official release of the IMF was published.
“We have reached agreements on policy parameters and reforms aimed at maintaining macroeconomic stability in the context of the ongoing war for the next period of the program remains important effective communication between the monetary authorities and finance,” said the head of the NBU.
Now the next step is the review of these agreements by the IMF Board of Directors. Once they are approved, Ukraine will receive the next tranche under the program – about $1.1 billion.
Let’s recall that Ukraine received the first tranche in the amount of $2.7 billion from the IMF immediately after the approval of the program totaling $15.6 billion in early April 2023. The second tranche amounted to $890 million (June 2023), the third – $900 million (December 2023), the fourth – $880 million (March 2024).
After receiving the fifth tranche from the IMF in the amount of $2.2 billion in early July 2024, Ukraine became the second largest debtor to the fund.
As reported, in early September the IMF launched a mission for the fifth revision of the EFF extended financing program, which will allow Ukraine to raise $1.1 billion.
The IMF also announced an updated memorandum with Ukraine, the fulfillment of the terms of which will determine additional support for our state.
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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.