Kyiv has fulfilled all necessary obligations under the EFF extended financing program, the department said.
Ukraine has fully complied with all structural beacons and other obligations under the EFF extended financing program at the International Monetary Fund (IMF). The mission for the fourth screening program is expected to start working at the end of May in Warsaw. This was announced by the Deputy Minister of Finance Olga Zykova to the Interfax-Ukraine agency on the sidelines of the second Luxembourg-Ukrainian business forum Rapid recovery of Ukraine, which took place in Luxembourg on Tuesday.
“All structural beacons have been completed… We can say we are on program and fulfilling our obligations,” he said, organized by the Luxembourg-Ukrainian Chamber of Commerce and Industry
The official noted that during the mission we will talk about the structural work to ensure that Ukraine remains within the framework of the program in the future, developing a work plan for the future until the end of the year of its fifth revision. According to him, “there are no critical points.”
The first months of this year, in the absence of EU and US funding, partially compensated by Japan and Norway, Ukraine passed mostly thanks to internal measures: a tax on excess profits of banks, early payment of dividend of the largest state-owned company .
Ukraine continues to conduct active negotiations with both the United States and the EU on the issue of mutually expected fulfillment of its obligations, Zykova added.
The four-year EFF program of approximately $15.6 billion was approved on March 31, 2023 and is part of a $122 billion international support package for Ukraine.
For 2024, three additional tranches are provided based on the results of the corresponding program evaluation: SDR1.670 billion ($2.21 billion) in mid-June, then SDR835 million in early September and December.
Two tranches are planned for 2025: for SDR684 million at the beginning of March and at the end of August, after which three more final tranches are planned for SDR966 million.
Let’s recall that on February 1, EU leaders at a summit in Brussels agreed on a €50 billion support program for Ukraine called the Ukraine Facility. It is designed for the period of 2024-2027.
The Ministry of Economy announced the next tranche from the EU
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.