“On December 20, the Executive Board of the International Monetary Fund (IMF) completed the sixth review of the Enhanced Financing Facility (EFF) program for Ukraine. This will allow the country to receive another tranche of about 1.1 billion US dollars. This was reported in the press service of the Ministry of Finance. Minister of Finance of Ukraine Serhiy Marchenko noted that in this way, financing from the IMF in the current year will reach almost 5.4”, — write on: ua.news
On December 20, the Executive Board of the International Monetary Fund (IMF) completed the sixth review of the Enhanced Financing Facility (EFF) program for Ukraine. This will allow the country to receive another tranche of about 1.1 billion US dollars.
This was reported in the press service of the Ministry of Finance.
Minister of Finance of Ukraine Serhiy Marchenko noted that in this way, financing from the IMF in the current year will reach almost 5.4 billion US dollars, and the total amount of payments under the EFF program will amount to 9.8 billion US dollars.
The funds will be used to finance important budget expenditures.
It is noted that Ukraine has fulfilled five structural beacons provided for by the sixth revision, and completed three more ahead of schedule:
- amendments were made to the Customs Code in accordance with international standards;
- a review of pre-war medium-term budget planning policies was conducted;
- assessed financial risks for stability and developed scenario action plans;
- assessed the state of heat supply enterprises;
- the state property management policy, dividend policy and privatization strategy were developed;
- the procedure for registration of regulatory decisions of the NCRECP was canceled (early);
- a new Supervisory Board of “Ukrenergo” was formed with independent members (early);
- amendments were made to the Law on the Accounting Chamber to strengthen its effectiveness (early).
The NBU added that the EFF program envisages budget support for Ukraine from international partners: the total package of external financing under the base scenario is $148 billion. USA, and for the negative – 177 billion dollars for the four-year period of the program.
It includes new assurances under the Extraordinary Revenue Acceleration Loans (ERA) mechanism, which provides for the provision of a loan, the repayment of which will be provided by the income from immobilized Russian assets in the amount of up to 50 billion dollars. USA.
We will remind you that the IMF believes that Ukraine has shown very well in recent years that it is a good borrower and has a good plan for debt repayment, so it is more profitable for Ukraine’s partners to provide financing to the country now, to prevent its defeat in the war. This opinion was expressed by Prishila Tofano, permanent representative of the International Monetary Fund (IMF) in Ukraine.
On November 11, the Mission of the International Monetary Fund (IMF) began its work in Ukraine. She will work to prepare the sixth revision of the program.
On October 23, Ukraine received another tranche of $1.1 billion from the International Monetary Fund.
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