Today at 18:22
The International Monetary Fund approved the allocation of another tranche to Ukraine, worth $1.1 billion, within the framework of the Extended Fund Facility (EFF).
That’s according to an IMF statement regarding the completion of the fifth review of the EFF program for Ukraine.
“The IMF Board today completed the Fifth Review of the extended arrangement under the Extended Fund Facility (EFF) for Ukraine, enabling a disbursement of about US$1.1 billion (SDR 834.9 million) to Ukraine, which will be channeled for budget support,” the press release states.
“Russia’s war in Ukraine continues to bring a devastating social and economic toll on Ukraine. Despite the war, macroeconomic and financial stability is being preserved through skillful policymaking by the Ukrainian authorities as well as substantial external support. The economy has remained resilient, despite significant damage to the energy infrastructure, reflecting the continued adaptability of households and firms”, – explained IMF Managing Director Kristalina Georgieva.
Ukraine and the IMF reached an agreement on the fourth review of the EFF in late May, which allowed the country to receive another tranche of about $2.2 billion in early June.
