IMF approves $2.2B tranche for Ukraine

Ukraine will soon receive another tranche from the International Monetary Fund worth $2.2 billion, Report informs referring to the IMF press service.

“The IMF Board today completed the Fourth Review of the extended arrangement under the Extended Fund Facility (EFF) for Ukraine, enabling a disbursement of about $2.2 billion (SDR 1.66 billion) to Ukraine, which will be channeled for budget support.

Ukraine’s performance remains strong under the EFF despite challenging conditions. All quantitative performance criteria for end-March were met, and all structural benchmarks through end-June were implemented on time or with a short delay.

The Ukrainian economy continues to be resilient although the outlook remains subject to exceptionally high uncertainty. Sustained reform momentum and timely disbursement of external support are necessary to safeguard macroeconomic stability, restore fiscal and debt sustainability, and enhance institutional reforms to lay the path to European Union accession,” reads the report.