Skip to content
Edit post

Ukraine receives first $2.7 billion tranche of IMF financial package

by The Kyiv Independent news desk April 3, 2023 8:27 PM 1 min read
This audio is created with AI assistance

Ukraine has received a $2.7 billion tranche from the International Monetary Fund (IMF), the Finance Ministry reported on April 3.

On March 31, the IMF first announced that it had reached an agreement with Ukraine to provide a four-year financial aid package worth approximately $15.6 billion. This funding is part of a larger package worth $115 billion.

The $2.7 billion was set to be disbursed "immediately" to help maintain economic and financial stability in Ukraine "during a period of exceptionally high uncertainty," the IMF wrote.

According to the Finance Ministry, the Extended Fund Facility (EFF) Program is divided into two phases. The first phrase is set to be implemented in 2023-2024.

Its aim is to prioritize implementing a strong budget for 2023, increasing revenue mobilization without decreasing tax revenues, reducing inflation, stabilizing the exchange rate, maintaining adequate foreign exchange reserves, promoting long-term financial stability by assessing the banking sector's health and further establishing central bank independence.

The second phase of the EFF Program is set to aid with Ukraine's post-war reconstruction and European integration, the Finance Ministry wrote.

Von der Leyen: ‘I’m deeply convinced that Ukraine will win this war’
As Russian President Vladimir Putin makes his last-ditch attempt to break European support for Ukraine, European Commission President Ursula von der Leyen visited Kyiv on Sept. 15, saying that the EU will always stand by Ukraine’s side. “Putin has always tried to divide us wherever there might have…
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

Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
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
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.