IMF starts mission for fifth review under EFF program – Ukrainian PM

The International Monetary Fund (IMF) is launching a mission for the fifth review under the Extended Fund Facility (EFF) program, which will allow Ukraine to raise $1.1 billion in the fall of 2024, Ukrainian Prime Minister Denys Shmyhal has said on Monday.

The IMF Resident Representative Office in Ukraine confirmed to Interfax-Ukraine the start of the mission this week.

"We discussed the start of the mission during a conversation with Director of the IMF European Department Alfred Kammer. I thanked Kammer and the entire team of the Fund for consistent work on the fourth review under the program this summer," he said on the Telegram channel.

The Prime Minister said they also discussed the reform implementation process and the fulfillment of structural benchmarks.

"We highlighted the progress in this direction. Ukraine is systematically working with partners to ensure macro-financial stability. In particular, it successfully implements the EU Ukraine Facility program worth EUR 50 billion," he said.

Shmyhal also noted that the conversation with Kammer focused on the issue of confiscation of Russian assets, "which should become a significant resource for supporting Ukraine."