As of October 2024, the IMF is the third largest partner of Ukraine in terms of the volume of financial assistance provided after the EU and the USA.
Ukraine received $1.1 billion from the International Monetary Fund. Prime Minister Denis Shmygal announced this on Telegram on Wednesday, October 23.
According to him, the money will be used to cover important non-military budget expenses.
“We received this tranche thanks to the successful fifth review of the EFF program worth $15.6 billion .
In turn, the Ministry of Finance reported that the head of the department, Sergei Marchenko, met with the Managing Director of the IMF, Kristalina Georgieva, at the annual meeting of the Fund and the World Bank Group in Washington. They discussed further cooperation and the financial needs of Ukraine in the next year.
“Since the beginning of the mass invasion, Ukraine has received more than $11.3 billion exclusively from the IMF. Effective cooperation with the fund is one of the levers to support the country’s financial stability in war conditions the needs of Ukraine The decision to optimize the schedule is important for our state tranches for 2025, which will make it possible to attract more funds to the state budget within the EFF next year,” emphasized Marchenko.
The IMF’s EFF program now has up to $2.7 billion available for 2025, based on four screenings. The value was originally estimated at around $1.8 billion, according to two viewings of the program.
As of October 2024, the IMF is the third largest partner of Ukraine in terms of the volume of financial assistance provided after the EU and the USA.
During the 19 months of operation of the Extended Financing Facility program, Ukraine successfully completed five reviews – for the first time in the history of cooperation with the IMF. This made it possible to attract about $8.7 billion from the $15.6 billion provided by the program.
For her part, Kristalina Georgieva assured that the Foundation will continue to fully support Ukraine.
Earlier in October, the IMF approved the allocation of $1.1 billion to Ukraine. For this to happen, the Ukrainian authorities will have to fulfill a number of the Fund’s demands, including some that are not very popular with the population.
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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.