IMF Approves $690 Million Tranche for Ukraine Under Lending Program
Quick Look
The International Monetary Fund's Executive Board approved a $690 million tranche for Ukraine, completing the first review of Kiev's four-year, $8.1 billion Extended Fund Facility arrangement, enabling immediate disbursement.
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Why It Matters
The International Monetary Fund's Executive Board approved a $690 million tranche for Ukraine as part of its four-year, $8.1 billion Extended Fund Facility arrangement.
WASHINGTON, July 21. /TASS/. The Executive Board of the International Monetary Fund (IMF) approved a $690 million tranche for Ukraine under a new lending support program, according to a statement released by the fund's press service on Monday.
The statement said IMF experts completed the first review of Kiev's four-year lending program worth a total of $8.1 billion.
"The IMF Executive Board completed the First Review of Ukraine's 48-month
Extended Fund Facility (EFF) arrangement, enabling an immediate disbursement of SDR 503 million (about US$690 million). Ukraine's performance under the program has been broadly satisfactory," the document said.
A preliminary agreement on allocating the tranche to Ukraine was reached on June 12 this year.
Open Questions
- What are the specific conditions attached to this tranche?
- How will Ukraine prioritize the use of these funds?
