Ukraine’s State Budget General Fund on Monday received the second tranche of the International Monetary Fund’s (IMF) $890 million Extended Fund Facility (EFF), the Ministry of Finance of Ukraine said.
“The funding received is the result of effective and coordinated cooperation of the government, the Ministry of Finance, the National Bank of Ukraine with experts and IMF management under the extended financing program,” Finance Minister Sergei Marchenko said in a statement.
The Ministry of Finance specified that by now Ukraine has already received $3.59 billion from the IMF out of the total volume of this four-year program of $15.6 billion (11.6 billion SDR), opened at the end of March this year.
During the first review of the EFF program, which resulted in the allocation of the second tranche, experts and IMF management noted the significant progress of the Ukrainian side in the implementation of structural measures and quantitative performance criteria defined in the program, the Ministry of Finance pointed out.
“Thanks to the funds provided, we are able to continue to maintain economic stability in Ukraine and ensure priority spending of the state budget,” Marchenko noted.
Representatives of the IMF said after the first review that the second review is expected in late November and early December.
