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IMF Mission Commences Kyiv Discussions on Fifth Review of EFF Program

Overview

An International Monetary Fund (IMF) mission has arrived in Kyiv, Ukraine, to commence discussions on the fifth review of Ukraine's Extended Fund Facility (EFF) program.

The mission, led by Gavin Gray, will assess Ukraine's progress in implementing its economic reform program and discuss the next steps in the program.

Key Points

• The IMF mission will review Ukraine's economic performance and progress in implementing its reform program.
• The mission will discuss the next steps in the EFF program, including the timing of the next disbursement.
• The EFF program is a three-year lending arrangement that provides Ukraine with access to IMF financing to support its economic recovery.

Background

Ukraine's EFF program was approved by the IMF in March 2015. The program provides Ukraine with access to $17.5 billion in IMF financing to support its economic recovery and reform efforts.

Ukraine has made progress in implementing its reform program, but challenges remain. The country's economy has been hit by the global COVID-19 pandemic, and the war in eastern Ukraine continues to weigh on its finances.

Outlook

The IMF mission will assess Ukraine's progress and discuss the next steps in the EFF program. The mission's findings will be presented to the IMF Executive Board for consideration.

The IMF is committed to supporting Ukraine's economic recovery and reform efforts. The EFF program provides Ukraine with the financial resources and technical assistance needed to implement its reform program.

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