Ukraine is preparing for the seventh review of the IMF program: when to expect a new tranche
18 February 2025 00:13
In the coming days, an International Monetary Fund (IMF) mission will start working in Ukraine to assess the implementation of the Extended Fund Facility (EFF) program and prepare the ground for the next tranche of financial assistance. This was reported by "Komersant Ukrainian" with reference to the Ministry of Economy.
Minister of Finance of Ukraine Sergii Marchenko and Managing Director of the International Monetary Fund Kristalina Georgieva discussed preparations for the seventh review of the EFF program. The IMF mission will start in the coming days.
The key topics of the meeting were the current state of Ukraine’s economy and the fulfillment of the terms of the IMF’s Extended Fund Facility (EFF) program. Sergii Marchenko emphasized the importance of cooperation with the Fund to maintain financial stability and economic development.
“Since the beginning of the full-scale invasion, Ukraine has received over USD 12.4 billion from the IMF. Effective cooperation with the Fund is one of the levers to maintain the country’s financial stability in times of war. The IMF continues to respond effectively to Ukraine’s needs. And we, for our part, are implementing the necessary reforms to stabilize the economy and bring Ukraine closer to EU membership. The EFF program is important for achieving these goals, as it is a pillar of cooperation with international partners and helps to attract large-scale funding from donors, including the G7 countries and the European Union,” said Sergii Marchenko.
Kristalina Georgieva, in turn, assured that the IMF will continue to support Ukraine in economic recovery and reforms.
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Preparations for the seventh review of the EFF program
The parties discussed the preparations for the seventh review of the EFF program, which will start in the coming days. The Minister of Finance of Ukraine emphasized that Ukraine has already successfully completed six reviews of the program, which allowed it to attract USD 9.8 billion out of the USD 15.5 billion envisaged for 2023-2027.
“The Ministry of Finance, together with the teams of the National Bank and the IMF, continues to work on the implementation of the jointly defined reforms. We have already successfully completed six reviews of the Program and are working to fulfill the conditions for the seventh review and, as a result, to receive the next tranche of about USD 917.5 million,” added Sergii Marchenko.
Further financing plans
In 2025, Ukraine plans to attract USD 2.7 billion from the IMF based on the results of four quarterly reviews.
At the same time, the program is part of the international support package for Ukraine, which currently amounts to about USD 148 billion.
Areas of reform to continue cooperation
As of today, Ukraine has already implemented 35 structural beacons – reform measures under the IMF Extended Fund Facility program.
For the program to continue in 2025, Ukraine must fulfill the conditions in four key areas
- strengthening financial stability
- support for economic recovery;
- improving the governance of state institutions;
- european integration.
As a reminder, the IMF is the third largest provider of financial assistance to Ukraine after the US and the EU. Cooperation with the IMF remains strategically important for the country’s financial stability and attracting international investment.
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