Successful reviews of Ukraine’s IMF program are expected to unlock an additional $1.9 billion in funding by the end of this year.
The Ministry of Finance of Ukraine announced this following a meeting between Prime Minister Denys Shmyhal, Finance Minister Sergii Marchenko, and IMF Managing Director Kristalina Georgieva in Washington, Ukrinform reports.
“The IMF continues to respond effectively to Ukraine’s needs. Since the start of the full-scale invasion, Ukraine has received over $12.8 billion in budgetary support from the IMF alone. In addition, the Extended Fund Facility (EFF) provides a foundation for economic recovery and facilitates EU accession. I am grateful to our colleagues for their timely and necessary support,” Marchenko said.
The ministry recalled that in March 2023, the IMF Executive Board approved a four-year Extended Fund Facility (EFF) program for Ukraine totaling $15.5 billion. Of this amount, $10.1 billion has already been disbursed following seven successful program reviews.
For 2025, the IMF program envisions up to $2.3 billion based on the outcomes of four scheduled reviews. The first tranche of $400 million was transferred to Ukraine’s state budget in March this year.
The ministry stressed that Ukraine has already completed 40 structural benchmarks under the EFF program. Key areas of reform include strengthening macro-financial stability, improving structural fiscal policy, enhancing fiscal transparency, advancing public investment management, deregulating economic activity, improving the business climate, intensifying anti-corruption efforts, and reforming the energy sector.
Georgieva, in turn, reaffirmed the IMF’s commitment to continued support for Ukraine.
Source: Ukraine expects additional $1.9B from IMF by year-end – Ministry of Finance
