Ukraine received another tranche from the IMF: in the amount of 2.2 billion dollars: what will the funds be used for
The receipt of this tranche became possible thanks to the decision of the Board of Directors of the IMF, which was adopted on June 28.
The International Monetary Fund transferred a tranche of $2.2 billion to Ukraine under the program for 2023-2027, the total amount of which is almost $16 billion. About this reported Prime Minister Denys Shmyhal in his Telegram.
“The listed amount will help the government in financing critical budget expenditures, social benefits, doctors’ and teachers’ salaries,” he said.
Cooperation of Ukraine with the IMF
In March 2023, Ukraine’s agreement with the IMF on the EFF program for $15.6 billion was approved. As part of the program, the Ukrainian state budget has already received five tranches, their total amount is about 7.6 billion dollars. Ukraine received $900 million in March, and the last tranche of $2.2 billion in July. During 2024, Ukraine expects to receive two more tranches of $1.1 billion each (in October and December).
Receiving the last tranche became possible thanks to the decision of the Board of Directors of the IMF, adopted on June 28. Thus, in general, international aid to Ukraine since the beginning of the year amounted to 16 billion dollars.
At the same time, within the framework of the program, Ukraine must fulfill political commitments from allies to allocate 122 billion dollars by 2027. At the same time, the IMF has developed a negative scenario for the Ukrainian economy in the event of a protracted war. In this case, the total financing of Ukraine will increase to 140.7 billion dollars.
During the war, all taxes collected in Ukraine are directed to military needs. Social expenditures are financed by international aid.
