WASHINGTON, November 26. /TASS/. The International Monetary Fund (IMF) and Ukraine have reached an agreement on a $8.2 billion deal under an Extended Fund Facility, the fund said on its website.
"IMF staff and the Ukrainian authorities have reached staff-level agreement on the authorities request for a new 48-month, extended arrangement under the Extended Fund Facility (EFF), with a potential access of SDR5.94 billion (around US$8.1 billion, 295% of quota)," it said.
An IMF delegation, headed by Gavin Gray, head of the IMF's mission to Ukraine, met with the Ukrainian authorities on November 17-21.
Head of the Budget Committee of the Verkhovna Rada Roksolana Pidlasa said earlier this month that the IMF had begun negotiations with Kiev on a new financing program. She said the program amounts to about $8 billion, which is less than Kiev expected. She said that the IMF's decision to launch the program is expected in January, when the first payment should be made.
Ukraine's current program with the IMF runs for 2023-2027, but Prime Minister Yulia Sviridenko has asked the fund to develop a new plan. Ukraine's budget has been running a record deficit for several years now. Its own income allowed it to cover only military expenses, while everything else was financed by Western aid. Currently, Kiev recognizes that the country has completely exhausted its own resources and it is becoming more difficult to find money every time. However, Western partners, including the IMF, insist that the country look for new sources of self-financing.