The Executive Board of the International Monetary Fund (IMF) on July 31, 2015 completed the first review of Ukraine’s Extended Fund Facility (EFF) program and approved second disbursement of $1.7 billion.
The IMF praised the commitment of the Government of Ukraine and the National Bank of Ukraine to fulfill all their obligations under the EFF and readiness to continue implementation of the reforms.
The IMF expressed its appreciation for the efforts of the Ukrainian authorities aimed at improving the national legislation in banking, fiscal and energy sectors, brining the energy tariffs to the market level along with introduction of the social safety nets programs, decreasing of the budget subsidies to the NAK “Naftogaz of Ukraine”, pension reform implementation, realization of the anticorruption measures.
The IMF’s decision paves the way to the World Bank Board meetings on two Development Policy Loans for Ukraine totaling $1bln., and facilitates financing from Japan ($300 mln.) and from Germany (200 mln. euro).
Therefore our country will be able to receive during August-September 2015 about $3,2 bln. for reforms implementation.