Denys Shmyhal, the Prime Minister of Ukraine, announced on October 23 that Ukraine had received a tranche worth nearly $1.1 billion after the successful completion the fifth programme review.
Shmyhal said that the funds would be used to cover non-military budget expenditures.
The economic pressure from the full-scale Russian invasion is increasing. Foreign aid for Ukraine is essential. Last year, the besieged country received an external funding of $42.5 billion to allow it to continue operating despite the ongoing war.
The IMF and Ukraine have reached a preliminary deal for Kyiv to receive another tranche of funds in September.
The IMF also said that the risks for Ukraine “remain extremely high” due to the economic slowdown expected as a result of repeated Russian attacks against the country’s infrastructure and the impact the war has had on the labor markets and confidence.
The IMF stated that Kyiv must “respect the financing constraints and debt sustainability goals” in its 2025 budget.
The EFF funds were created to provide stability to Ukraine during the war, to support the postwar recovery of the country, and to promote economic growth, as Ukraine advances on its path to EU membership.
The EFF is an agreement for long-term financing that will allow Ukraine access to $15.6 billion of financial aid in regular payments.
After arriving at Tbilisi Airport on October 22 to cover the upcoming elections, Ray Baseley, a Czech-British Journalist was denied entry into Georgia without explanation.
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