27 May 2024, Monday, 16:27 472

IMF mission and representatives of Ukrainian authorities begin negotiations on 4th revision of EFF program

Editor: Daria Zubkova

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On May 27, the Minister of Finance of Ukraine, Serhii Marchenko, took part online in the opening of the IMF mission regarding the fourth revision of the Extended Fund Facility (EFF) program.

This is stated in the notification of the Ministry of Finance, Ukrainian News Agency reports.

From Ukraine, representatives of the Ministry of Finance, the National Bank of Ukraine (NBU), as well as other authorities responsible for policies in the field of economy, energy, fighting and preventing corruption, rule of law, participate in the meetings.

The purpose of the mission is to discuss the status of Ukraine's fulfillment of the terms of the Memorandum on Economic and Financial Policy.

Meetings take place in Warsaw, Republic of Poland, as well as in online format.

"The Ministry of Finance, together with the teams of the National Bank and the IMF, continues to actively work on the implementation of jointly defined reforms to ensure macroeconomic stability, strengthening of public administration, economic recovery and gradual European integration of Ukraine. We have already successfully passed three revisions of the Program and expect to receive the next tranche of about USD 2.2 billion, as a result of the successful fourth revision, already in June," said Minister of Finance of Ukraine, Serhii Marchenko, during the opening of the mission.

As Ukrainian News Agency earlier reported, the state budget of Ukraine has already received four tranches under the IMF EFF program with a total volume of about USD 5.4 billion out of USD 15.6 billion provided for by the program.

On March 26, Ukraine received USD 880 million from the International Monetary Fund.

The EFF program is implemented in two stages (war and post-war) and provides access to credit funds from the IMF in the amount of SDR 11.6 billion (equivalent to USD 15.6 billion).

In 2023, Ukraine received three tranches from the IMF for a total amount of SDR 3.3 billion (USD 4.5 billion).

This year, Ukraine has the opportunity to receive four tranches from the IMF with a total volume of 4 billion SDRs (USD 5.4 billion in equivalent), including financing that should arrive in the near future.