Ukraine receives $1.1 billion loan from IMF
Source: Prime Minister Denys Shmyhal/Telegram
Ukraine has secured another tranche under the Extended Fund Facility (EFF) program from the International Monetary Fund (IMF), amounting to $1.1 billion. The funds have already been sent to the state accounts and will be used to cover “critical budgetary expenditures”, said the country’s PM Denys Shmyhal.
Ukraine has received $9.8 billion as part of the EFF program that was approved by the IMF executives on March 31, 2023 – it spans four years with a total credit allocation of $15.6 billion.
The EFF is divided into two key phases:
- War-time support – The first phase focuses on funding essential government expenses during the war.
- Post-war recovery – The second will help finance Ukraine’s reconstruction and economic recovery after the war.
Ukraine received approximately $4.5 billion under the program in 2023.
Amendments to Ukraine’s enforcement proceedings legislation, initiated by the Ministry of Justice of Ukraine, have entered into force. Among other measures, the reform provides for the automated lifting of attachments on bank accounts immediately after debts in enforcement proceedings have been fully settled. The main practical benefit for citizens is the complete elimination of the need to contact an enforcement officer in person and wait for paper decisions once the debt has been paid.
The 157th Separate Mechanized Brigade has received another batch of supplies as part of Rinat Akhmetov’s Steel Front military initiative. This time, the military received seven quad bikes and four mobile shower and bath units.
In my previous column, I wrote about social innovations in Ukraine. Those innovations are part of civic resilience and the democratization of security, which Europe is paying close attention to right now. The EU is trying to work out how to spread responsibility for its own security across society as a whole, rather than leaving it to institutions alone. It is looking for concrete ways to bring ordinary people into the work of defense and resistance.
Petro Poroshenko’s lawyers have appealed to the High Anti-Corruption Court demanding that NABU be obligated to register proceedings regarding the fact of exerting influence on the court and to recognize Petro Poroshenko as a victim in the case of the Deputy Head of the Office of the President, Iryna Mudra, due to her pressure on Supreme Court judges who were considering a lawsuit to overturn sanctions.
Internationally recognized brands and financial institutions should direct capital to Ukraine now, not waiting for the hostilities to end. This was emphasized by Rinat Akhmetov, president of FC Shakhtar, during a working visit to UEFA headquarters in Nyon, Switzerland, where he met with UEFA President Aleksander Čeferin.