IMF and Ukraine Strike Staff Agreement on $400 Million Disbursement

Officials from the International Monetary Fund and the Ukrainian government have reached a staff-level agreement on the seventh review of Ukraine's $15.5 billion Extended Fund Facility program, as announced by the IMF on Friday. This agreement, once approved by the IMF's board, will lead to the release of approximately $400 million.

The announcement comes after eight days of negotiations between IMF experts and Ukrainian officials, against the backdrop of the war-torn country's uncertain future regarding international economic support.

IMF official Gavin Gray, who headed the visiting team, stated, "Ukraine's four-year EFF Arrangement with the IMF continues to provide a strong anchor for the authorities' economic program in times of exceptionally high uncertainty." The statement also highlighted that "the program remains on track with crucial external support."

In a separate statement, Ukraine's finance ministry mentioned that the country is "continuing to make productive strides in implementing jointly agreed reforms."