Ukraine plans to receive $2.7 billion from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF), the country's Finance Ministry announced.
“In 2025, it is planned to attract $2.7 billion from the IMF based on the results of four quarterly reviews“, said a statement after a meeting between Finance Minister Serhiy Marchenko and the head of the National Bank Andriy Pyshny with the Fund's Managing Director Kristalina Georgieva in Saudi Arabia.
The Finance Ministry stressed that the program requires the fulfillment of certain conditions. During the audits, the fund's experts will assess Kiev's compliance with the terms of the memorandum on economic and financial policies, in particular budget execution, the state of international reserves and the implementation of reforms.
Kiev has repeatedly received tranches from the fund since the beginning of the war. “Ukraine has received over $12.4 billion from the IMF (since the beginning of the IMF's activities)“, the ministry added.
The Ukrainian authorities, which depend on financial assistance from Western partners, regularly report on the fulfillment of their conditions in terms of the implementation of recommended reforms. At the same time, allies are increasingly linking continued support and the country's European integration process to the fulfillment of these conditions, which include changes in legislation. In the fall of 2023, a leaked letter from US Deputy Assistant Secretary of National Security Michael Pyle to the Ukrainian leadership caused a great stir in Ukraine. The document presents a list of priority reforms that Kiev must implement in order to receive assistance from Washington.
Verkhovna Rada deputy Yaroslav Zheleznyak called this approach "money for reforms", and the head of the parliamentary faction of the pro-presidential party "Servant of the People" David Arakhamia admitted that the Rada will prioritize bills on the adoption of which the continuation of funding from Western donors depends.