Ukraine Receives $1.1 Billion from IMF

Ukraine has received a $1.1 billion tranche from the International Monetary Fund (IMF) as part of its Extended Fund Facility (EFF) program, marking the sixth disbursement under this initiative. Prime Minister Denys Shmyhal highlighted that this funding will be directed towards critical budget expenditures, crucial for sustaining the country amidst ongoing military conflict with Russia. So far in 2023, Ukraine has received a total of $5.4 billion from the IMF, with overall disbursements under the EFF reaching $9.8 billion. The EFF program is designed to provide $15.6 billion in support over four years, aimed at ensuring fiscal stability and aiding in post-war recovery. The IMF's support is seen as vital for Ukraine's economic resilience and governance improvements. This financial assistance comes as Ukraine continues to rely heavily on international aid to manage its social and defense expenditures during the war.