Ukraine successfully fulfilled all indicators of the IMF program, which allows the Board of the Fund to soon approve the fifth tranche in the amount of 1.1 billion dollars. This could happen during the annual meetings of the IMF and the World Bank in October in Washington. About this reported US Deputy Treasury Secretary Brent Nieman in an interview with Voice of America.
The working level of the IMF approved the allocation of the tranche back on September 10, but the final decision by the Fund’s executive board has not yet been adopted. Niemen is sure that this will happen in the near future, because Ukraine has fulfilled all the necessary structural beacons and indicators for the summer.
“Ukraine did very well, fulfilled all the structural beacons and indicators that had to be fulfilled over the summer. Therefore, I think we will soon approve the review, and Ukraine will continue to successfully implement the program.”Niemen noted.
The IMF’s four-year program, the total amount of which is 15.6 billion dollars, is a key element of international economic support for Ukraine. Despite the difficult situation, in particular due to shelling of the energy infrastructure, the Fund predicts the growth of the Ukrainian economy by 3% in 2024.
Niemen also emphasized that Ukraine demonstrates the ability to maintain economic stability in war conditions and successfully implement the IMF program.
After the fifth review of the four-year Extended Fund Facility program is completed, Ukraine will have access to $1.1 billion.
