Ukraine has received $10.2 billion from the IMF since February 2022: Sergii Marchenko during the meeting with the IMF Mission

The leadership of the Ministry of Finance of Ukraine and representatives of the International Monetary Fund held the working meetings. 

The discussions took place in Kyiv on July 16-19.

The teams of the Ministry of Finance headed by Minister of Finance Sergii Marchenko and the IMF Mission to Ukraine headed by IMF mission chief for Ukraine Gavin Gray discussed preparations for the fifth review of the Extended Fund Facility (EFF) Arrangement and reform measures to strengthen Ukraine's financial capacity. 

The Ukrainian side also congratulated Priscilla Toffano on her appointment as IMF Resident Representative in Ukraine starting August 1, 2024. 

"The Government of Ukraine, the National Bank and other authorities have already met 23 structural benchmarks out of 37 envisaged by the Memorandum with the IMF. 14 of the performed benchmarks concerned the fiscal sector. Ukraine's performance of the conditions contributes to macrofinancial stability and paves the way for the European integration. The financial system is adapting to operate amid uncertainty. As we approach the fifth review, the Ukrainian side, in collaboration with the IMF, is making every effort to pass it successfully. I am grateful for the productive meetings within the mission," said Sergii Marchenko. 

The IMF mission for the fifth review of the EFF will start in September. Upon a successful review, Ukraine will receive the next tranche from the Fund, totaling about USD 1.1 billion. Among the conditions is one structural benchmark regarding the law on the Economic Security Bureau of Ukraine.

The leadership of the Ministry of Finance noted that the challenges of wartime require sustainable and rhythmic external financing for Ukraine. The IMF's leadership in this regard continues to play an important role. The Fund is actually a platform that brings international donors to mobilize funds for Ukraine's priority needs. 

In this context, the Minister of Finance expressed his gratitude for the USD 10.2 billion of budget assistance provided exceptionally by the IMF since February 24, 2022. This is the third largest external financing after the EU and the US. 

This year, the need for international support reaches USD 38 billion. The partners have already provided their respective assurances. Measures are being taken to raise funds in 2025. 

Additional information

The total amount of the EFF for 2023-2027 is USD 15.6 billion. The EFF is part of the international support package for Ukraine, which currently amounts to about USD 122 billion.