Ukraine is expected to soon receive an additional USD 690 million from the International Monetary Fund (IMF), after the IMF Executive Board completes the first review of the new support program for Kiev under the Expanded Fund Facility (EFF).
On July 21, according to TASS news agency, Ukrainian Prime Minister Sergey Koretsky said that the new decision of the IMF will pave the way for the money to be disbursed in the next few days.
On his personal Telegram channel, Mr. Koretsky wrote: "The IMF Executive Board has completed the first review of the new program for Ukraine under the Expanded Fund Mechanism. This creates conditions for Ukraine to receive about 690 million USD from the IMF in the coming days".
The IMF Executive Board also confirmed the completion of the review allowing aid worth about 690 million USD to be disbursed immediately after completing the necessary procedures.
According to Prime Minister Sergey Koretsky, the new capital will contribute to consolidating the state budget, maintaining economic stability and supporting the reconstruction process in the context of prolonged conflict.
The EFF program is a long-term financial support mechanism of the IMF for countries that need to reform their economic structure and strengthen macroeconomic financial stability. Since the conflict escalated, Ukraine has been one of the countries receiving the most financial support from the IMF as well as international partners.
In recent years, IMF support packages have helped Kiev maintain the operation of the state apparatus, ensure budget disbursement capacity and promote economic reform programs.
The new disbursement is expected to continue to supplement financial resources for Ukraine to maintain economic activities, stabilize the financial system and gradually recover after the prolonged impacts of the conflict.
