The Board of Directors of the International Monetary Fund will complete the fifth review of the Extended Fund Facility for Ukraine before the start of its annual meetings, that is, by October 21. This was reported by Julie Kozak, a representative of the International Monetary Fund , during a briefing on October 3, UNNreported.
Details
Kozak reminded that on September 10, IMF staff and the Ukrainian authorities reached a staff-level agreement on the fifth review of the Extended Fund Facility (EFF) program for Ukraine.
Under the EFF agreement, which is subject to the approval of the Executive Board, Ukraine will have access to USD 1.1 billion. The Board is expected to consider the fifth review before its annual meeting
She added that the IMF's annual meeting will be held from Monday, October 21, to Saturday, October 26.
As for the financing gap, the IMF representative said that at the time of the fourth review of the program , it was projected to reach almost $26 billion in 2025.
Kozak said that the IMF team is in the process of updating its forecasts as part of the fifth review, which is currently underway.
To recap
Ukraine's Prime Minister Denys Shmyhal says that Ukraine and the International Monetary Fund (IMF) have reached an agreement at the expert level on the fifth review of the $15.6 billion Extended Fund Facility (EFF) program.
On September 13, the Prime Minister announced that Ukraine would soon receive a $1.1 billion tranche from the International Monetary Fund.