IMF To Decide On Next Tranche For Ukraine Within EFF In Coming Weeks
Date
11/21/2024 3:11:27 PM
(MENAFN- UkrinForm) The IMF Executive Board will meet to hear the results of the sixth review of the Extended Fund Facility for Ukraine and to make a decision on the allocation of the next tranche in the coming weeks.
Julia Kozack, chief of the IMF Communications Department, said this on Thursday during a briefing in Washington in response to Ukrinform's questions.
Regarding the time when the IMF Executive Board will hold a meeting, it is expected to take place in the coming weeks, the Fund's spokesperson said.
She clarified that the management will make a decision regarding the allocation of another tranche of up to $1.1 billion to Ukraine. If approved, this will increase the total amount that Ukraine will receive under the Extended Fund Facility (EFF) to $9.8 billion.
Read also: IMF slightly improves Ukraine's GDP growth forecas
In addition, Kozack noted that in 2025, Ukraine may receive another $2.7 billion in several tranches under the same facility.
As Ukrinform reported earlier, at the end of March 2023, the IMF approved a 48-month EFF program for Ukraine with total access to $15.5 billion in loan funds. The program became part of the $151.4 billion support package for Ukraine. The agreement between the IMF and Ukraine helps to anchor policies that support fiscal, external, and macro-financial stability at a time of extremely high uncertainty. In addition, the EFF aims to support economic recovery, improve governance, and strengthen institutions to promote long-term growth in the context of Ukraine's reconstruction and path to the European Union.
Last week, the IMF mission concluded the sixth review of the EFF for Ukraine.
MENAFN21112024000193011044ID1108912419
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.