IMF approves sixth review of EFF program for Ukraine and allocates seventh tranche of $1.1 bln

The Executive Board of the International Monetary Fund (IMF) on Friday completed the sixth review of the Extended Fund Facility (EFF) for Ukraine, which allowed the allocation of the seventh tranche of about $1.1 billion (SDR834.9 million), which will be used to support the budget, the fund said on its website.

"Ukraine’s economy remains resilient, and performance remains strong under the EFF despite challenging conditions. The authorities met all end-September quantitative performance criteria and structural benchmarks," the fund said.

"Sustained reform momentum, progress at domestic revenue mobilization, and timely disbursement of external support are necessary to safeguard macroeconomic stability, restore fiscal and debt sustainability, and improve governance," reads the report.

As reported, on October 23 of this year, following the fifth revision of the EFF program opened in March 2023, Ukraine received its sixth tranche of $1.1 billion, which increased the amount of payments to $8.7 billion with a total program volume of $15.6 billion.