Ukraine will spend IMF funds on social benefits, pensions, salaries - PM

Ukraine will use IMF funds to finance priority expenditures, including pensions, social benefits and salaries for teachers and doctors.

Ukrainian Prime Minister Denys Shmyhal said this at a government meeting on Tuesday, April 4, Ukrinform reports, citing the government's Telegram channel.

"The IMF approved a $15.6 billion financing program for Ukraine. Yesterday, the first tranche of $2.7 billion has already been transferred to the state budget. We will immediately use these funds to finance priority expenditures, including pensions, social benefits, as well as teachers' and doctors' salaries," Shmyhal said.

On April 3, Ukraine received the first tranche of $2.7 billion from the International Monetary Fund as part of a new Extended Fund Facility.

On March 31, the IMF Executive Board approved a new 48-month extended arrangement under the Extended Fund Facility (EFF) of SDR 11.6 billion (about $15.6 billion) as part of a $115 billion total support package for Ukraine.