$1.1 Billion Deal Between IMF and Ukraine

A consensus has been reached between the International Monetary Fund (IMF) and Ukrainian officials on a deal that will provide Ukraine access to $1.1 billion. The IMF stated today that this agreement is pending approval from the IMF Executive Board. If approved, the total amount provided to Ukraine under the program will reach $9.8 billion.

Evaluation of Ukraine's reform process Last week, Ukrainian Prime Minister Denis Shmygal met with an IMF delegation. In a statement on social media after the meeting, he mentioned that the fifth review of the EFF program had been successfully completed by the end of October. Shmygal indicated that all structural criteria for the sixth review had been met and that they expect to receive a tranche of $1.1 billion by the end of December.

The discussion focused on the implementation of reforms outlined in the memorandum of cooperation with the IMF and the progress Ukraine has made. It was noted that the IMF has given a high evaluation of Ukraine's progress. The meeting also addressed macroeconomic issues and Ukraine's external financing needs.

Support and budget planning for Ukraine Shmygal stated that the government has prepared the draft state budget for the second reading and has a clear plan on how to finance key expenditures. Highlighting the reliable support from the IMF, World Bank, United States, and European Union, Shmygal emphasized the funding provided through the Ukraine Facility Program and the ERA tool. He stressed the importance of these supports for Ukraine's financial stability and ongoing reform processes.