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IMF adds new conditions to Ukraine EFF program amid economic challenges

December 21, 2024
IMF adds new conditions to Ukraine EFF program amid economic challenges
The International Monetary Fund office [PHOTO: Getty images]

The International Monetary Fund (IMF), following the latest revision of Ukraine’s fulfillment of its obligations under the Extended Fund Facility (EFF) program, added three new mandatory conditions to Kyiv. The head of the Verkhovna Rada Committee on Finance, Danylo Getmantsev.

According to him, now the Ukrainian side needs to prepare an operational strategy for the regular securities market and the stock market; prepare and submit to parliament for consideration a bill on critical third-party risks; and publish external assessments of the regulator’s work in the energy and utilities sector.

Getmantsev added that Kyiv currently faces 51 mandatory conditions from the IMF, of which 34 have been fulfilled.

In December, the Ukrainian Cabinet approved the terms of an agreement to receive a 40-year loan for $20 billion from the US Federal Financial Bank. The financing will be part of the G7 countries’ program to provide Kyiv with $50 billion from income from frozen Russian assets. The Russian authorities called this decision illegal and promised to take retaliatory measures.

Earlier, the IMF gave a forecast for the end of the conflict in Ukraine.

Europe Desk

Europe Desk

The Europe Desk leads The Eastern Herald's coverage of the United Kingdom, France, Germany, the European Union, and Ukraine diplomacy. The desk reports on EU institutions, NATO, European elections, and the diplomatic and economic shifts shaping the continent, sourcing through named primary institutions.

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