Recent Posts
- Ukraine recovery should be based on development of territorial communities, innovations, involvement of professional domestic community – results of ESUR forum 29.06.2023
- Ukraine repatriates five more seriously wounded Russian POWs 10.04.2023
- Rada intends to include history of Ukraine, foreign language in final certification for general secondary education 10.04.2023
- Rada terminates protocol on joint anti-terrorist measures in CIS territories for Ukraine 10.04.2023
- 100 Ukrainians, incl defenders of Mariupol, returned according to swap procedure – Yermak 10.04.2023
IMF approves four-year EFF Arrangement for Ukraine for $15.6 bln as part of $115 bln overall support package – fund
KYIV. April 1 (Interfax-Ukraine) – The IMF Board approved a new four-year extended arrangement under the Extended Fund Facility (EFF) of SDR 11.6 billion (about $15.6 billion) as part of a $115 billion total support package for Ukraine, the fund said on its website.
“Ukraine’s EFF-supported program aims to anchor policies that sustain fiscal, external, price and financial stability and support economic recovery, while enhancing governance and strengthening institutions to promote long-term growth in the context of post-war reconstruction and Ukraine’s path to EU accession,” the IMF said.
“The Executive Board’s decision allows the immediate disbursement of around SDR 2 billion (or $2.7 billion),” the fund said.
The IMF mission chief for Ukraine, Gavin Gray, told reporters that the first review of the program is expected in June-July this year, the second – by the end of October, possibly in early November, and from 2024 it will be quarterly.
“The approval of the EFF is expected to mobilize large-scale concessional financing from Ukraine’s international donors and partners, to help resolve Ukraine’s balance of payments problem, attain medium-term external viability, and restore debt sustainability on a forward-looking basis in both a baseline and downside scenario,” the fund said.
