On May 25, 2023, during the Constituency Meetings of the IMF and the World Bank in Montenegro, Minister of Finance of Ukraine Sergii Marchenko met with Director of the European Department of the International Monetary Fund (IMF) Alfred Kammer, as part of a working visit to Montenegro.
The meeting was also attended by Deputy Minister of Finance Olga Zykova and Government Commissioner for Public Debt Management Yuriy Butsa.
The parties discussed the current economic situation in Ukraine, policies and measures taken by the Government of Ukraine to overcome the consequences of a full-scale war, and the start of the IMF mission.
“Thanks to effective cooperation with the International Monetary Fund, we continue to implement structural reforms and maintain economic stability even in the face of full-scale war. Ukraine fulfills the structural benchmarks agreed with the IMF prior to the first review of the Extended Fund Facility Arrangement in the fiscal sector, in particular. By continuing to strengthen our economy and financial system, we are able to create a quality basis for the reconstruction of Ukraine,” said Sergii Marchenko.
The Minister of Finance of Ukraine also thanked for the fruitful cooperation, in particular, for the financial support of the state budget of Ukraine, as well as for the assistance in determining the priority directions of policies and reforming the country, including for the further integration of Ukraine into the European Union.
During the meeting, the parties also discussed the start of the IMF mission with Ukrainian authorities in Vienna, Austria, and expectations regarding the results of the first review of the Extended Fund Facility (EFF) Arrangement with total funding of USD 15.6 billion.
In March 2023, the IMF Board approved a new four-year Extended Fund Facility (EFF) Arrangement for Ukraine with financing in the amount of USD 15.6 billion (SDR 11.6 billion). Ukraine received the first tranche of USD 2.7 billion after the program was approved.