4th revision of IMF program scheduled for June - Pyshnyi

18.04.2024, 18:02 ukranews.com

The head of the NBU Andrii Pyshnyi announced this on Facebook, Ukrainian News Agency reports.

"In June, a fourth revision of the extended financing program with the IMF is planned. We are actively working on the implementation of the necessary indicators, structural beacons and preparing for expert discussions with the Foundation team. Yesterday in Washington, at a meeting of the official delegation of Ukraine with IMF Managing Director Kristalina Georgieva, the current status of the program implementation and the overall macroeconomic picture were outlined," he wrote.

According to the head of the NBU, there is a positive trend: the economy is recovering, the foreign exchange market is functioning properly in conditions of flexibility, its depth is increasing, the rate is moving both ways, the plurality of courses is almost leveled, international reserves due to the financing received in March from partners are at a high level.

Lending is gradually increasing across all segments, including outside government support programs.

This is an important indicator of the revival of economic activity.

"Over the week, we will present updated macroprognosis and current risks for its implementation. We hope that thanks to the efforts of Ukrainian diplomacy and with the support of partners, in particular the IMF, the timely receipt of external assistance will resume. At least the latest news from Congress gives hope," added Andrii Pyshnyi.

As Ukrainian News Agency earlier reported, on March 26, Ukraine received USD 880 million from the International Monetary Fund.

The EFF program is implemented in two stages (military and post-war) and provides access to credit funds from the IMF in the amount of 11.6 billion SDR (equivalent to USD 15.6 billion).

In 2023, Ukraine received three tranches from the IMF totaling 3.3 billion SDR (USD 4.5 billion).

This year, Ukraine is able to receive four tranches from the IMF with a total amount of 4 billion SDR (USD 5.4 billion in equivalent), including financing that should arrive in the near future.