Ukraine expects $1.1B tranche from IMF in late Dec - PM

Ukrainian Prime Minister Denys Shmyhal announced this in a Telegram post following a meeting with the IMF mission headed by Gavin Gray, Ukrinform reports.

Shmyhal thanked the IMF team for continuing the mission's full-fledged work in Kyiv, noting that their on-site presence allows for a better understanding of Ukraine's immediate needs.

"We successfully completed the 5th review of the EFF Arrangement at the end of October. We completed all structural benchmarks required for the 6th review. After the current mission concludes, we expect to receive the next $1.1 billion tranche at the end of December," Shmyhal said.

According to him, in this context, the parties discussed the further implementation of the reforms foreseen in Ukraine's Memorandum of Cooperation with the IMF and the country's progress, which the IMF values very highly.

The meeting participants also discussed macro-financial issues and Ukraine's need for external financing. Shmyhal announced that the government had prepared the draft state budget for its second reading.

"We understand how we will finance key expenditures. Here we have reliable support from the IMF, the World Bank, the U.S. and the EU through the Ukraine Facility program and financing through the ERA instrument," Shmyhal said.

Ukrainian Finance Minister Sergii Marchenko also attended the meeting.

To date, Ukraine has received six tranches under the IMF's EFF, totaling approximately $8.7 billion out of the $15.6 billion allocated under the arrangement.

Photo credit: Denys Shmyhal / Telegram