The International Monetary Fund has approved the allocation of a new tranche of $1.1 billion to Ukraine

This was reported by Deutsche Welle on Saturday, October 19.

The IMF stated that Ukraine has fulfilled all the criteria that were established based on the results of the previous review of the economy. They added that the Ukrainian authorities have fulfilled the structural benchmarks in relation to “tax benefits, war-affected state-owned companies, customs reform and public investment management.”

The fund noted that in the first half of 2024, Ukraine’s economy was more stable than expected. At the same time, the forecast for the second half of 2024 and 2025 has allegedly worsened since the fourth review due to Russian attacks on energy infrastructure.

As the Prime Minister of Ukraine Denys Shmyhal reported, the funds will be directed to cover non-military budget expenditures.

“Pduring the review, the schedule of tranches for 2025 was optimized, thanks to which we will attract more resources to the state budget,” wrote the Ukrainian Prime Minister.

On September 2, the IMF launched a mission for the fifth review of the EFF program, which allowed Ukraine to attract $1.1 billion.

On August 28, Bloomberg reported that a delegation of the International Monetary Fund will visit Ukraine to review the country’s budget prospects and decide whether to allocate another $1.1 billion under the support and recovery program.

In July, the European Commissioner for Economic Affairs Paolo Gentiloni reported that the G7 countries will probably conclude a framework agreement on providing Ukraine with a $50 billion loan by October.

On July 3, Shmyhal reported that the IMF had granted Ukraine a tranche of $2.2 billion.