IMF disburses $2.2 bln to Ukraine - prime minister

MOSCOW. July 3 (Interfax) - The International Monetary Fund (IMF) has disbursed $2.2 billion to Ukraine, Ukrainian Prime Minister Denis Shmygal said.

"This is part of the $16.6-billion funds envisaged by the Extended Fund Facility (EFF). Ukraine has done important homework and has successfully passed the fourth program review, for the first time in the history of our bilateral relations with the IMF, in order to get it," Ukrainian media quoted Shmygal as saying on a social network.

The disbursement will help the Ukrainian government finance critical budget expenses, social benefits, and salaries of doctors and teachers, Shmygal said.

As reported, the four-year EFF totaling about $15.6 billion was approved in March 2023 as part of the $122-billion international support package for Ukraine. The first tranche of $2.7 billion was disbursed in April 2023, and the second and third tranches of $0.9 billion each followed in July and December 2023. The IMF Executive Board approved the fourth tranche of $0.9 billion in March 2024, and the fifth tranche in late June.

Two more tranches are planned for 2024, SDR835-million tranches will be provided in September and December. There will be two tranches in 2025, SDR684 million will be allotted in early March and at the end of August each, followed by three SDR966-million tranches.