The International Monetary Fund (IMF) approved the granting of 2.2 billion dollars under the Extended Financing Facility (EFF) to support Ukraine with budget funds, the "Kyiv Independent" reported.
Funding is released after the IMF's Executive Board completes the fourth review of the MRF agreement. Ukrainian Prime Minister Denis Shmygal announced that the IMF had begun a review of the agreement on May 31.
"Ukraine's performance under the MRF remains good despite the difficult conditions. All quantitative performance benchmarks for the end of March were met, and all structural indicators for the end of June were met on time or slightly late," the IMF said.
MRF funds aim to provide stability to Ukraine in the face of ongoing war, support the country's post-war recovery and promote economic growth as Ukraine progresses towards EU membership.
IMF Managing Director Kristalina Georgieva said that "Ukraine's performance and commitments under the program continue to be stable."
Georgieva added that "the country's economy remains sustainable, which reflects the continued adaptability of households and companies."
Despite progress in fulfilling Ukraine's MRF commitments, prospects for the country's economic recovery are likely to continue to deteriorate in 2025.
"The outlook for recovery is expected to be slow, particularly given the attacks on Ukraine's energy infrastructure, and the outlook is exposed to high risks from the extremely high uncertainty associated with the war. Vigilance against these risks is needed to enable timely responses when shocks materialize," Georgieva said. | BGNES
