Help us serve you better. Take a survey now

Take survey
Skip to content
Edit post

IMF reaches agreement to lend $900 million to Ukraine

by Kate Tsurkan May 30, 2023 8:06 PM 1 min read
This audio is created with AI assistance

Support independent journalism in Ukraine. Join us in this fight.

Become a member Support us just once

The International Monetary Fund (IMF) reported on May 30 that it had reached a staff-level agreement with Ukrainian officials that could lead to the disbursement of a $900 million tranche under the Extended Fund Facility (EFF) Arrangement.

According to the IMF, the agreement pertained to an "updated set of economic and financial policies" during the first-year review.

The IMF's EFF arrangement, typically lasting three to four years, is meant to provide extended financial support to countries in need and stabilize their economies.

The IMF's executive board still needs to approve the agreement in order for the $900 million tranche to be disbursed. Ukraine's EFF arrangement amounts to around $15.6 billion.

Gavin Gray, who led the IMF's team, said that "all quantitative performance criteria for end-April and structural benchmarks through end-May were met."

Ukraine's economy has "shown remarkable resilience" and "economic activity in the first quarter rebounded strongly," he said.

According to Gray, Ukraine's economy was expected to recover as it continued to adapt to wartime circumstances.

Ukraine war latest: Russia launches 2 large-scale attacks on Kyiv in less than 24 hours
Key Developments on May 29: * Ukraine’s air defense shoots down 11 ballistic, cruise missiles aimed at Kyiv Oblast during second attack in 24 hours * Russian forces attack several oblasts, killing 4 people and injuring 25 * Ukraine’s parliament votes in favor of additional sanctions against Iran…
Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

12:42 AM

Russia attacks 13 communities in Sumy Oblast, injuring 1.

Russian forces struck 13 communities in Ukraine's northeastern Sumy Oblast in 35 separate attacks throughout the day, the regional administration reported on April 16. One civilian was injured in the Yampil community following Russia's airstrike.
Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
9:42 PM

Deputy PM: Ukraine hopes to begin EU accession talks in June.

The EU should be able to offer a negotiating framework to begin the process of Ukraine’s ascension to the European Union in June, Ukraine’s Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stefanishyna said during a press briefing on April 16, as reported by the Hromadske news outlet.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.