Ukraine and IMF reach staff-level agreement on seventh review of EFF program
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The International Monetary Fund (IMF) and the Ukrainian authorities have agreed to a staff-level agreement (SLA) for the seventh review of the four-year, $15.5 billion Extended Fund Facility (EFF) facility. Subject to approval by the IMF Executive Board, this opens the way for an eighth disbursement of approximately $400 million (SDR 300 million), bringing total disbursements under the facility to $10.1 billion.
“The program's performance remains strong. All quantitative performance criteria (QPC) as of end-December were met, and agreements were reached on a number of policy measures and reforms aimed at maintaining macroeconomic stability,” the IMF said in a press release published on its website following the mission's work, which was conducted in Kyiv and Warsaw from February 20.
According to the report, the structural reform agenda continues to advance, with seven structural milestones met, one delayed, and sustained commitments to advance other key reforms confirmed.
It was previously expected that Ukraine would receive $917.5 million as a result of the seventh review.
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