The IMF mission on the eighth review of the "Extended Financing Facility" program with Ukraine, which worked in Kyiv on May 20-27, has been completed. The result is an agreement at the staff level (SLA). This was reported by the IMF, writes UNN.
Details
An International Monetary Fund (IMF) delegation led by Mr. Gavin Gray held talks with the Ukrainian authorities in Kyiv, Ukraine, from May 20 to 27 on the Eighth Review of the four-year Extended Fund Facility (EFF). At the conclusion of the discussions, Mr. Gray made the following statement:
"IMF staff and the Ukrainian authorities have reached an agreement at the expert level on the Eighth Review of the EFF program, which is subject to approval by the IMF Executive Board. The issue is expected to be submitted to the Board for consideration in the coming weeks."
It is noted that after that Ukraine will have access to financing in the amount of about 0.5 billion US dollars, and the total amount of payments under the program will reach 10.65 billion US dollars.
The total size of the program remains unchanged (15.5 billion US dollars).
It is emphasized that the performance indicators of the program remain high. All quantitative performance criteria as of the end of March this year have been met. Agreements have also been reached on policy measures and reforms aimed at supporting macroeconomic stability.
Let us remind
The IMF mission began work on the next review of the EFF program for Ukraine on May 20.
Reference
On March 31, 2023, the IMF Executive Board approved a four-year program under the Extended Financing Mechanism (EFF) for Ukraine with financing of approximately US$15.5 billion (SDR 11.6 billion).
The program is part of a package of international support for Ukraine in the amount of approximately US$148.8 billion for 2023-2027.