IMF approved a tranche of 500 million dollars for Ukraine

IMF approved a tranche of 500 million dollars for Ukraine

The International Monetary Fund has already decided to provide Ukraine with a new tranche. Its size will amount to 500 million dollars.

This was announced by the Prime Minister of Ukraine Denys Shmyhal. He added that the funds would be used to cover the budget’s priority expenditures.

"The IMF Executive Board has completed the eighth review of the cooperation program with Ukraine. Soon, we will receive the ninth tranche from the Fund amounting to 500 million dollars," the statement reads.

The official noted that under the EFF program, Ukraine has already received over 10 billion dollars. He also added that this is an important contribution to maintaining our resilience and macrofinancial stability.

"Grateful to the International Monetary Fund for unwavering solidarity and support. Working together and in coordination, we strive for victory, recovery, and growth," the statement reads.

The IMF noted that Ukraine’s economy remains resilient and the country’s authorities "have met all quantitative performance criteria as of the end of March."

"Despite the difficulties, success in mobilizing domestic revenues, strengthening the investment climate, improving governance, and completing the debt restructuring strategy is necessary to restore fiscal and debt sustainability and support growth. Full and timely external support over the program period remains a crucial component of macroeconomic stability," the statement reads.