The Board of the International Monetary Fund has completed its fifth review of the Extended Fund Facility program, which provides financial assistance to countries facing serious medium-term balance of payments problems.
The updated Memorandum of the International Monetary Fund does not obligate Ukraine to increase energy tariffs. This was announced on Monday, October 21, by the Ministry of Finance of Ukraine.
According to officials, the original version of the document and all five updates included a block on energy sector reform and the potential for tariff increases. However, as stressed by the Ministry of Finance, this will only be possible with the allocation of “adequate and targeted resources” to protect vulnerable households.
“The memorandum dated October 18, 2024 repeats the potential activities contained in previous updates, does not propose new ones and does not create obligations for Ukraine to increase energy tariffs during the war ,” the Ministry of Finance said in a statement.
The International Monetary Fund approved the allocation of a new tranche to Ukraine in the amount of $1.1 billion. For this to happen, Ukraine had to fulfill a number of funding requirements, some of which were not very popular with the population.
Earlier, the IMF published an updated memorandum on Ukraine, the fulfillment of the terms of which will determine additional support for our state.
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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.