IMF staff and Ukraine reach agreement on $690 million aid disbursement

Key facts

• The IMF and Ukraine reached a staff-level agreement on the first review of the EFF program.
• The agreement could unlock $690 million in additional funding for Ukraine.
• Ukraine met most performance criteria for the review.
• Some reforms in Ukraine lagged behind schedule.
• A revised timetable and corrective measures are required.
• The Extended Fund Facility program is a four-year initiative.

Ukraine and the International Monetary Fund (IMF) have achieved a staff-level agreement concerning the initial review of Kyiv's four-year Extended Fund Facility (EFF) program. This agreement paves the way for a potential disbursement of $690 million in additional financial assistance to Ukraine. The Ukrainian government successfully met the majority of the performance criteria set forth in the program. However, certain reform measures experienced delays, prompting the need for a revised implementation timetable and the adoption of corrective actions. These adjustments are crucial for finalizing the review and unlocking the next tranche of funding from the IMF's EFF program.