Ukraine receives $1.1 billion from IMF to support war efforts
Ukraine has received a $1.1 billion tranche from the International Monetary Fund (IMF), which will be directed toward critical budgetary expenditures, Ukrainian Prime Minister Denys Shmyhal announced, as reported by The Kyiv Independent.
This marks the sixth tranche disbursed to Ukraine under the IMF’s Extended Fund Facility, raising the total amount provided so far to $9.8 billion.
“I am grateful to the leadership and team of the International Monetary Fund,” Ukrainian Prime Minister Denys Shmyhal wrote on X.com.
Ukraine has received an IMF tranche totalling USD 1.1 billion as part of the Extended Fund Facility (EFF) Arrangement. The funds will be used to finance key budget expenditures. I am grateful to the leadership and team of the International Monetary Fund @IMFNews for their…
— Denys Shmyhal (@Denys_Shmyhal) December 23, 2024
External financing, such as the $15.6 billion allocated to Ukraine through the Extended Fund Facility over four years, is critical for Kyiv, as its budget faces mounting pressure from Russia’s large-scale war.
“Throughout the implementation of the program, Ukraine successfully passed six reviews, which allowed the disbursement of approximately $9.8 billion out of the $15.6 billion allocated under the program. We continue to actively work on implementing the reforms agreed upon in the program,” Ukraine’s Finance Minister Serhii Marchenko said, according to Unian.
Last year, Kyiv received $42.5 billion in foreign aid, and the Ministry of Finance has stated that this amount must increase by at least $12 billion in 2025.
Translation by Iurie Tataru
