Shmyhal: IMF, Ukraine seal fourth review of EFF

Ukraine and the International Monetary Fund agreed at the expert level on the fourth review of the Extended Fund Facility (EFF) programme in the amount of $15.6 billion. This will allow Ukraine to receive a $2.2 billion tranche in the coming weeks.

This was announced by Prime Minister Denys Shmyhal via X, Ukrinform reports.

"Ukraine and the IMF have reached staff-level agreement on the Fourth Review of the Extended Fund Facility (EFF) programme in the amount of 15.6 billion dollars," the head of government wrote.

Shmyhal specified that Ukraine had not previously reached the fourth review in any IMF program.

According to the prime minister, the agreements are evidence of Ukraine's commitment to reform and transformation.

"Ukraine fulfilled all the quantitative criteria and structural beacons until the fourth review. Following approval by the IMF Executive Board that is expected in the coming weeks, Ukraine will receive $2.2 billion," the government chief emphasized on Telegram.

Shmyhal emphasized that the funds from partners help the government finance all key budget expenditures in full and direct internal resources to the nation’s ongoing defense effort in the face of Russian aggression.

The prime minister went on to thank the IMF for the “important support”.

As reported earlier, the state budget has already seen four tranches under the IMF EFF programme with a total amount of about $5.4 billion.

The IMF programme for Ukraine under the Extended Fund Facility (EFF) was approved on March 31, 2023. It is designed for four years, laying down a total of $15.6 billion for Ukraine.