OREANDA-NEWS The Board of Executive Directors of the International Monetary Fund (IMF) has approved an agreement on the allocation of the next tranche of $880 million to Ukraine through the extended lending mechanism. This is stated in a statement issued on Thursday by the IMF's press service. As follows from the document, the IMF management has completed the review of the working agreements reached earlier between the organization and the Ukrainian leadership. This will make it possible to "immediately allocate $ 880 million, which will be directed to budget support" for Ukraine, the text says.

An agreement on the allocation of the next tranche to Ukraine was reached in February. At that time, the Fund expressed the opinion that Ukraine was experiencing "positive dynamics of steady growth" of the economy. At the same time, the organization recognized that the forecast for the development of the Ukrainian economy for 2024 remains "extremely uncertain."

The previous tranche of $900 million under the four-year extended lending facility was approved by the IMF's Board of Executive Directors in December 2023. The Fund previously approved a four-year program for Ukraine under this mechanism with financing in the amount of $15.6 billion. The first tranche of $2.7 billion was received by the general fund of the Ukrainian state budget on April 3, 2023.