Representatives of the Ukrainian authorities and experts of the International Monetary Fund have reached an agreement at the working level on a 4-year Extended Fund Facility (EFF) program.
According to the Ministry of Finance, the Agreement provides funding for Ukraine in the amount of USD 15.6 billion. It includes a number of macroeconomic and financial measures to support the economic recovery of our country.
The EFF program consists of two phases.
The first stage (12-18 months), based on the measures of the Monitoring Program, involves strengthening financial stability by enhancing revenue mobilization.
The second stage includes:
– reforms aimed at recovery and reconstruction;
– measures aimed at supporting Ukraine’s accession to the EU;
– enhancing financial sustainability and accelerating long-term growth.
The program will help mobilize financing from Ukraine’s international partners, as well as help maintain macrofinancial stability and lay the foundation for Ukraine’s recovery.