Ukraine has met the criteria that allow a new disbursement by the International Monetary Fund (IMF) of 900 million dollars (823 million euros) from the reconstruction assistance program, the financial institution announced on Tuesday.
The program has a total value of US$15.6 billion.
“Ukrainian economic activity in the first quarter recovered strongly”, thanks to the restoration of the energy infrastructure and “all criteria have been met” by Kiev to receive this tranche, according to the statement published after a week of meetings between the two parties in Vienna. , Austria.
IMF representatives, Ukraine’s Finance Minister Sergii Marchenko and central bank Governor Andriy Pyshnyi signed an agreement on necessary policy reforms in return.
It is now up to the IMF Board of Directors to review the text and authorize the release of the funds. A first payment of $2.7 billion had already been made.
This IMF program, guaranteed by the states that have supported Ukraine since Russia’s invasion of their territory in February 2022, is part of a larger $115 billion program involving other organizations and bilateral creditors.
Ukraine promised in exchange for this financial support to carry out the necessary reforms, that is, to fight corruption, and “state authorities must live up to difficult political commitments,” the IMF warned.
Source: TSF
