IMF mission and Ukrainian authorities start discussions on the seventh review of the Extended Fund Facility arrangement

Today, February 20, the officials from the Ministry of Finance of Ukraine, the National Bank of Ukraine, and staff from the International Monetary Fund have commenced discussions on the seventh review of the Extended Fund Facility (EFF) Arrangement.

From the Ministry of Finance, participants include Minister of Finance Sergii Marchenko, First Deputy Minister Denys Uliutin, Deputy Ministers Yuriy Draganchuk, Olga Zykova.

The mission will continue over the next few days in Kyiv and Warsaw.

The purpose of the mission is to discuss Ukraine’s implementation of the Memorandum of Economic and Financial Policies.

By the seventh review, Ukraine has to meet twelve structural benchmarks in the financial and fiscal sectors, as well as governance.

“We are looking forward to a week of fruitful discussions with the IMF staff. The successful review of the program should result in Ukraine receiving funding of about USD 917.5 million. I am grateful to the International Monetary Fund for its support and expertise, which allows us to strengthen the economic and financial stability of Ukraine,” Sergii Marchenko said.

Ukraine has already received seven tranches under the IMF EFF totaling about USD 9.8 billion out of the planned USD 15.5 billion for the period 2023-2027. Since the beginning of the full-scale invasion, the International Monetary Fund has been the third largest source of financial assistance to Ukraine, behind only the European Union and the United States.