Ukraine's Finance Minister Serhiy Marchenko and the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva discussed preparations for the seventh review of the EFF programme. It is expected that the IMF mission will begin in the coming days.
This was reported by the Ministry of Finance’s press service following a meeting between the officials in Al-Ula, Saudi Arabia.
During the working visit to the city, Minister of Finance Serhiy Marchenko and the Governor of the National Bank of Ukraine Andriy Pyshny met with the IMF Managing Director. The meeting took place at the Emerging Markets Conference.
The parties discussed the state of Ukraine’s economy and the progress in fulfilling the conditions of the Extended Fund Facility (EFF) programme.
“Together with the teams of the National Bank and IMF, the Ministry of Finance continues to work on implementing the jointly defined reforms. We have successfully passed six reviews of the programme and are working to meet the conditions for the seventh review and, as a result, receive the next tranche of about 917.5 million USD,” said Marchenko.
Additionally, the IMF has noted that, under the EFF programme, Ukraine has successfully completed six reviews in nearly two years, marking a first in the history of Ukraine's cooperation with the IMF. This allowed for the allocation of about 9.8 billion USD to Ukraine’s state budget, out of the 15.5 billion USD planned for the 2023-2027 period.
The Ministry of Finance also reminded that 2.7 billion USD is planned to be raised from the IMF in 2025 following the results of four quarterly reviews.
