The IMF Board of Directors has approved for Ukraine a new four-year Extended Fund Facility program worth 8.1 billion US dollars.
In the near future, Ukraine will receive the first tranche – about $1.5 billion. We will direct funds to finance the budget deficit and maintain macro-financial stability.
This was reported by the Prime Minister of Ukraine Yulia Sviridenko, informs the portal PromPolitInform.
“It is very important for us that in the fifth year of a full-scale war, against the background of systemic attacks on the energy sector, Ukraine has guaranteed international financial support from partners and resources for the stable operation of the state.
The IMF-backed program is part of a broader financial framework designed to cover a projected $136.5 billion budget deficit over four years.
It envisages the continuation of reforms that ensured macroeconomic and financial stability in previous years.
Importantly, the new program of cooperation with the IMF for Ukraine is the anchor for all international financial support, in particular for obtaining a loan of 90 billion euros from the European Union.
In addition to funding from the EU, we are also talking about funding from the G7 countries, international financial institutions, as well as reducing debt payments on official debt through a debt relief mechanism. The partners confirmed the extension of the current moratorium on servicing the official debt and their readiness to complete the restructuring after stabilizing the situation,” the prime minister said.
Photo – from open sources
