IMF approves another $900M tranche for Ukraine
This is said in a press release published on the IMF’s website, Ukrinform reports.
“The IMF Board today concluded the 2023 Article IV consultation and completed the Second Review of the extended arrangement under the Extended Fund Facility (EFF) for Ukraine, allowing the authorities to draw the equivalent of about US$900 million (SDR 663.9 million), which will be channeled for budget support,” the document says.
It is noted that the Ukrainian authorities have made strong progress toward their EFF commitments under challenging conditions, meeting all applicable quantitative performance criteria through end-June and indicative targets through end-September and the majority of structural benchmarks through end-October.
“The Ukrainian economy continues to show remarkable resilience, although the outlook remains subject to exceptionally high war-related uncertainty,” the document says.
At the same time, the IMF stressed that continued strong ownership and reform momentum—including domestic revenue mobilization combined with timely and predictable external financing—are necessary to safeguard macroeconomic stability, enhance institutional reforms, and support reconstruction efforts, while facilitating a green recovery on the path to European Union (EU) accession.
As Ukrinform reported, on March 31, 2023, the IMF Board of Executive Directors approved a 48-month extended arrangement under the Extended Fund Facility (EFF) for Ukraine, worth $15.6 billion.
On November 10, Prime Minister Denys Shmyhal announced that Ukraine and the IMF reached a staff level agreement on the second review of the EFF arrangement, which would make it possible to allocate the third tranche to Ukraine under the Fund's arrangement.
