Ukraine Receives $900 Million from IMF for Budget Support
Hamrakura
Published 2023 Dec 15 Friday
Kyiv: Ukraine has successfully secured the third tranche of $900 million from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) to bolster its budget, as announced by the Finance Ministry in a statement on Thursday.
The funds from the IMF's EFF are earmarked to cover priority budget expenditures and maintain macroeconomic stability, particularly under martial law conditions, according to Ukrainian Finance Minister Sergii Marchenko. He emphasized that the EFF program will provide a robust foundation for the Ukrainian government's economic initiatives, facilitating its path toward full integration into the European Union.
The IMF approved a 48-month EFF arrangement for Ukraine in March, with a total value of approximately $15.6 billion aimed at supporting the nation's economic recovery. With this recent disbursement, Ukraine has successfully accessed a total of $4.5 billion under the IMF program.
The EFF program is expected to play a crucial role in shaping Ukraine's economic development strategy and ensuring financial stability in the coming months.
