The Executive Board of the International Monetary Fund (IMF) will consider the completion of the first review of Ukraine's Extended Fund Facility (EFF) arrangement and the disbursement of the second tranche of approximately $690 million in the coming weeks, IMF spokesperson Julie Kozack has said.
"The Board is expected to consider this issue in the coming weeks," she said during a briefing on Thursday.
According to Kozack, during the first review, IMF representatives and Ukrainian authorities agreed on an updated schedule of structural reforms and corrective measures to address the latest deviations from the program.
The updated timeline primarily concerns reforms in the areas of public administration, anti-corruption, and institutional reforms, as well as broader structural measures to support the country's market economy.
Details of the reforms and the updated schedule will be released following the Executive Board's decision and the publication of the IMF staff report.
As previously reported, on June 12, the IMF and the Ukrainian authorities reached a staff-level agreement on the first review of the EFF arrangement, although two structural milestones for the first quarter of 2026 were met late, and one was not met. At the same time, Ukraine met all quantitative criteria and indicative targets as of the end of March.
To continue the program, the parties agreed on an updated reform schedule, corrective measures to address deviations, and additional economic policy commitments. Once the Board of Directors approves the review, Ukraine will be able to receive the second tranche, and the total disbursements under the program will increase to $2.2 billion.
