National Bank awaits IMF Board decision on $1.1 bln tranche in second decade of Dec

The final decision of the International Monetary Fund (IMF) on the sixth review of the Extended Fund Facility (EFF) arrangement and the allocation of the seventh tranche to Ukraine in the amount of about $1.1 billion is expected in the second decade of December, the National Bank of Ukraine (NBU) reported.

"Ukraine has reached a staff level agreement on the sixth review of the Extended Fund Facility (EFF) arrangement with the IMF. In the second decade of December, this decision should be considered by the IMF Executive Board," the NBU website reported following a meeting of the central bank's management with the heads of the country's 30 largest banks this week.

As reported, on November 19, the IMF announced reaching a staff level agreement on the sixth review of the four-year EFF arrangement with Ukraine following the results of the mission's work in Kyiv on November 11-18.

After that, the President of Ukraine signed the law on the 2025 state budget and tax amendments to increase the military levy from 1.5% to 5% from December 1, as well as a number of other taxes and levies, and the government approved the state ownership policy and independent members of the Ukrenergo supervisory board.

As a source in financial circles told Interfax-Ukraine, the arrangement may be supplemented by about three new structural beacons, one of which concerns the assessment and work plans of the National Securities and Stock Market Commission of Ukraine. Another source assumed that the Board may consider the issue of the sixth review at the very beginning of the third ten-day period of December.

As reported, on October 23 of this year, following the fifth review of the EFF arrangement 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.