The Board of Directors of the International Monetary Fund has approved the third review of the EFF Extended Fund Facility program. This was announced by Prime Minister Denys Shmyhal.
The Prime Minister emphasized that the approval of the third revision of the program is the result of Ukraine's fulfillment of its obligations to its partners.
"We are expecting the next tranche of financial support in the amount of about USD 880 million. These are funds to cover the most important budget expenditures. They will help us to continue to maintain macro-financial stability," Shmyhal added.
The Ministry of Finance noted that Ukraine has successfully fulfilled all four structural conditions stipulated for the third review of the program:
- The National Revenue Strategy was adopted.
- A roadmap for public investment management has been developed.
- Measures have been developed to mobilize state budget revenues for 2024, if necessary.
- Legislation has been adopted to strengthen the institutional autonomy and effectiveness of the SAP.
Under the IMF EFF program, Ukraine has already received three tranches worth about $4.5 billion. For 2024, an additional budgetary assistance of $5.4 billion is envisaged for Ukraine.
