The International Monetary Fund (IMF) continues to count on Ukraine’s partners to fulfill their external financing obligations undertaken by them under the four-year EFF program opened by the fund in March this year, said IMF Mission Chief for Ukraine Gavin Gray.

"I would say the risks to external financing are there but they were there during the first review, they're not necessarily higher right now. We have concrete budget proposals from key donors that represent those financing assurances. Those countries are going through their budgetary processes and we will have to wait for them to be completed,” he said at a press conference on Tuesday night after the board of governors approved the second review of the program.

He said the fund expects all donors to honor their commitments one by one once their budget processes are completed.

At the same time, Gray noted that the IMF would definitely discuss with the Ukrainian side the steps it can take to eliminate any short-term gaps.

He recalled that the $15.6 billion EFF program is part of a $122 billion aid package from the international community.

"So far this year, the donors have dispersed resources as planned and on time, and that has been important because it has enabled the authorities to execute their budgets to maintain the level of expected expenditure and it's enabled the authorities to preserve adequate levels of reserves and thus preserve economic and financial stability," the report reads.

Asked about the possibility of using Russian frozen assets to finance Ukraine, Gray indicated that the IMF is neutral towards its members, and is aware of the risks for the international monetary system associated with any such initiatives.

"The IMF is neutral across members and also mindful of the risks to the international monetary system of any such initiatives. Of course, if any revenues from frozen assets were to be made available to Ukraine, we would assess their impact on the budget and Ukraine's program," Gray added.