IMF, Ukraine Agree for $880 Million Disbursement

The International Monetary Fund (IMF) has announced that its officials have reached a staff-level agreement with the Ukrainian government on updated economic policies.

This agreement paves the way for the disbursement of $880 million from the Fund to support the Ukrainian economy, pending approval by the IMF's Executive Board.

The agreement was reached after six days of meetings between Ukrainian officials and IMF staff in Warsaw, Poland, as part of the third review of Ukraine's $15.6 billion Extended Fund Facility (EFF) agreement with the IMF, which spans four years.

The IMF stated that Ukraine's progress under the program is "broadly on track," noting that Kyiv has met all but one of the structural benchmarks under review and all but one of the quantitative performance criteria.

The Fund highlighted that the Ukrainian economy has shown strong growth, a decrease in inflation, and bolstered reserves in 2023.

However, the outlook for 2024 remains highly uncertain due to the ongoing Russian war in Ukraine.