Ukraine Secures $4.5 Billion from IMF for Postwar Recovery

The Ukrainian Finance Ministry announced an additional $4.5 billion from the IMF’s Extended Fund Facility (EFF) program this year. This information comes following a meeting between Ukrainian officials and the IMF’s European Department representatives, where the budgetary issues and preparations for the fourth review of the EFF Arrangement were discussed.

The meeting was attended by First Deputy Minister of Finance Denys Uliutin, Deputy Minister of Finance for European Integration Yuriy Draganchuk, and Government Commissioner for Public Debt Management Yuriy Butsa.

“Ukraine’s compliance with the conditions under the EFF is crucial, as the implementation of certain measures and policies helps to maintain macro-financial stability and paves the way for the country’s European integration, while adapting the financial system to function in an unstable environment. Three more reviews are planned for 2024 under the EFF, which will potentially attract budget support totaling about $4.5 billion,” Uliutin thanked the IMF for its timely support of Ukraine.

The total amount of the Extended Fund Facility for 2023-2027 is $15.6 billion. The EFF is part of the international support package for Ukraine, which currently amounts to about $22 billion.

Earlier in April, Denmark and Ukraine signed a Memorandum of Understanding outlining a long-term cooperation and reconstruction of Ukraine.