Overview
- The IMF Executive Board has approved the first formal review of Ukraine's Extended Fund Facility and cleared an immediate disbursement of about $690 million that will be paid to Kyiv in the coming days.
- With this tranche, total EFF financing drawn by Ukraine rises to roughly $2.2 billion of an $8.1 billion facility that is structured to run over multiple years.
- Ukrainian officials say they met the end-March quantitative performance criteria that were prerequisites for the review and disbursement.
- The IMF staff described program performance as broadly satisfactory but flagged a missed end-June net international reserves target linked to wartime damage to infrastructure and regional geopolitical pressures, a shortfall that could pressure the currency if it continues.
- The review included revised timelines and additional structural measures and Kyiv has pledged to accelerate reforms to preserve program access, support recovery and bolster prospects for EU integration.