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Ukraine has received the third tranche worth $880 million from the International Monetary Fund.
This was reported by the Prime Minister of Ukraine Denys Shmyhal on X.
“The funds will help cover priority budget expenditures and maintain macro-financial stability. Ukraine continues to successfully fulfil its commitments to the partners,” wrote Denys Shmyhal.
The funds were allocated within the Extended Fund Facility (EFF) Arrangement which was approved by the IMF in 2015 and amounts to $17.5 billion. It has been a core element of the Ukrainian Finance Ministry’s plan to stabilize the country’s economy since 2016.
Shmyhal added that Ukraine was already getting ready for the next review of the program.
Ukraine has already used the EFF to implement substantial changes in the energy and banking sector, increase the NBU’s independence, remedy the public finances, reform the sector of state-owned companies, and fight corruption.
The EFF was launched to increase the reserves of the National Bank of Ukraine, to stop the exodus of capital, to enhance the measures taken by the Ukrainian government to stabilize the country’s balance of payments and to help Ukraine overcome structural problems in its economy by implementing reforms.
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