Ukraine’s PM meets with IMF officials: latest review of Extended Fund Facility set to unlock US$2.2 billion for Ukraine
Pravda Ukraine
Ukraine’s Prime Minister Denys Shmyhal has held a meeting with Alfred Kammer, Director of the European Department of the International Monetary Fund (IMF), and a group of IMF officials. The fourth review of the Extended Fund Facility (EFF) for Ukraine is expected to unlock US$2.2 billion for Ukraine. [The EFF provides financial assistance to countries facing serious medium-term balance of payments problems because of structural weaknesses that require time to address – ed.]
Source: Denys Shmyhal on Facebook
Details: “We appreciate this visit ahead of the start of the fourth review of the EFF programme, which will unlock US$2.2 billion,” Shmyhal said on Facebook.
He added that the IMF has given Ukraine US$8 billion since the beginning of the full-scale invasion. The IMF is one of the three largest financial aid donors; it also administers the framework that has raised more than US$120 billion for Ukraine.
“During our meeting, we discussed our joint actions with regard to key areas of cooperation. I talked about our government’s efforts to confiscate frozen Russian assets, our plans to restore our energy system and develop a decentralised system, and the ongoing implementation of reforms,” Shmyhal said.
“I am confident that the IMF will remain Ukraine’s trusted partner in the future,” the Ukrainian prime minister said.
Background:
- A group of International Monetary Fund officials headed by Alfred Kammer, Director of the IMF’s European Department, will hold a series of meetings in Kyiv with Ukrainian officials and other partners starting on 23 May.
- Earlier, it was reported that Ukraine has met all structural benchmarks and other obligations under the IMF’s Extended Fund Facility, which will undergo its fourth review this May.
Support UP or become our patron!