First review of IMF’s program for Ukraine kicking off in Vienna on Tuesday

First review of IMF’s program for Ukraine kicking off in Vienna on Tuesday

Prime Minister Denys Shmyhal of Ukraine discussed with Alfred Kammer, Director of the European Department of the International Monetary Fund, the start of the mission on the first review of the IMF's lending program, the Fund's assistance in Ukraine recovery.

The head of the government announced this on Telegram, Ukrinform reports.

"We discussed with Mr. Kammer IMF’s help in the European integration of Ukraine, as well as the role of the Fund in the reconstruction. We are working on creating an international compensation mechanism to allocate confiscated Russian assets for the reconstruction of Ukraine," head of government said.

He emphasized that he is counting on the IMF's support in this regard, as well as further assistance in consolidating financial assistance from partners from around the world.

Read also: IMF expects “critical legislative changes” in Ukraine

Shmyhal also noted that the mission for the first review of the IMF extended fund facility will start in Vienna on May 23, welcoming the start of its work.

The prime minister clarified that this is a 4-year EFF worth $15.6 billion, which was approved at the end of March. It is part of a large package of support from the G7 nations in the amount of $115 billion throughout the program duration.

As Ukrinform reported earlier, on March 31, the IMF Executive Board approved a new Extended Fund Facility for Ukraine in the amount of $15.6 billion, designed for 48 months. At the first stage, the IMF planned frequent reviews of its implementation, in particular, two such reviews are expected this year.

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