IMF plans eighth review of EFF program for Ukraine on June 30 – source

The Executive Board of the International Monetary Fund (IMF) plans to consider the issue of approving the eighth review of the four-year Extended Fund Facility (EFF) program worth $15.5 billion on Monday, June 30, a government source told Interfax-Ukraine.

A positive decision will allow Ukraine to receive the ninth tranche of about $500 million (SDR370 million), after which the total amount of payments under the program will reach $10.65 billion.

There is currently no information on the consideration of the Ukrainian issue on the IMF website.

"IMF staff and the Ukrainian authorities have reached Staff-Level Agreement on the eighth review of the EFF, subject to approval by the IMF Executive Board, with Board consideration expected in coming weeks," according to the information on the IMF website posted at the end of May, following the results of the mission's work in Kyiv on May 20-27.

"All end-March quantitative performance criteria and indicative targets have been met and understandings were reached on a set of policies and reforms to sustain macroeconomic stability. The structural reform agenda continues to make progress with two structural benchmarks met, another to be completed in the coming weeks, and strong commitments to advance other key reforms," it reads.