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IMF and Ukraine reach staff agreement on next disbursement of $880 million

World News

23-02-2024 | 06:59

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IMF and Ukraine reach staff agreement on next disbursement of $880 million

Officials from the International Monetary Fund and the Ukrainian government on Thursday reached a staff-level agreement on updated economic policies, paving the way to release about $880 million once approved by the IMF's board, the fund said.

The agreement came after six days of meetings between Ukrainian officials and IMF staff in Warsaw, Poland as part of a third review of Ukraine's $15.6 billion 4-year Extended Fund Facility (EFF) Arrangement with the IMF.

The IMF said Ukraine's progress on the program was "broadly on track", noting that Kyiv met all structural benchmarks under the review, and all but one quantitative performance criteria.

It said Ukraine's economy demonstrated strong growth, declining inflation and strengthening reserves in 2023, but the outlook for 2024 remained highly uncertain as Ukraine's fight against Russia's invasion continued.

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