15:53 04.03.2024

Delay in U.S. budget financing straining IMF – Shmyhal

2 min read
Delay in U.S. budget financing straining IMF – Shmyhal

The U.S. delay in providing assistance to Ukraine for the current year also worries the International Monetary Fund (IMF), from which Kyiv expects to receive $5.4 billion out of the required $37 billion this year as part of the EFF extended financing program, Prime Minister Denys Shmyhal said on Monday.

"The four-year IMF program provides for support from all G7 countries and the European Union, and therefore the delay in American assistance not only strains us, but also strains the International Monetary Fund, as part of the IMF program, which is designed for partners' support," he said at a press conference in Kyiv.

Shmyhal recalled that Ukraine still expects to receive $11.8 billion in U.S. budget support in 2024, and receiving it within a year is critical, as is about $50 billion in military support.

He expressed optimism that the United States will decide to provide assistance to Ukraine this year.

The Prime Minister also emphasized that in March-early April Ukraine expects to receive $900 million in the fourth tranche under the IMF EFF program, the EU bridge tranche under the Ukraine Facility in the amount of EUR 4.5 billion and about $2 billion from Japan and Norway, which will cover the year deficit of external financing.

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