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The National Bank of Ukraine (NBU) , which received positive feedback from the IMF during its June mission, anticipates the Board of Directors' approval of the fourth revision of the EFF program shortly. "During discussions in Kyiv with IMF officials, we highlighted the critical impact of the war and infrastructure attacks on Ukraine's external financing needs and business sentiment," an NBU statement said. The bank stressed the importance of consistent financial support from international partners.
Yaroslav Zheleznyak, First Deputy Chairman of the Parliamentary Committee on Finance, Taxation, and Customs Policy, noted that the IMF's Board meeting scheduled for June 28 will also address issues concerning Moldova and Ghana.
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Despite fluctuations in aid, with a notable drop last November, the IMF has signaled its expectation that Ukraine’s partners fulfill their commitments. The $15.6 billion EFF program is part of a broader $122 billion support package for Ukraine, which has already seen $5.4 billion disbursed in the first three tranches. An additional three tranches are expected in 2024 and two in 2025.
"The approval of this fourth revision is crucial. It will secure the funds Ukraine needs to manage its challenges and continue our economic stabilization efforts," the NBU expressed.
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Read the original article on The New Voice of Ukraine
Section: Business
Author: Владислав Литнарович
