IMF hopes Ukraine will achieve agreement with creditors prior to IMF board meeting on July 31

Communications Department Director at the International Monetary Fund (IMF) Gerry Rice has confirmed that a meeting of the IMF Executive Board may be held on July 31, after which Ukraine could be issued the second tranche of funding under the EFF program.

"A board meeting is intended to be scheduled for July 31," he said at a press briefing in Washington.

At the same time, Rice noted that the meeting would take place if Ukraine confirms the implementation of preliminary conditions, as well as the country's compliance with current policy.

In addition, Rice added that if the first review of the EFF program is approved by the IMF Board, the next tranche of financial assistance might be granted to Ukraine in the near future.

As reported, the IMF mission worked in Kyiv from May 12 to June 11. Initially, the mission planned to finish its work in late May or early June to make the decision on the issue of the second tranche under the EFF program by late June. However, the mission announced the first revision of the program at the expert level in early July.

On July 21, the Ukrainian authorities signed an updated letter of intent to the memorandum of economic and financial policies after the first review of the IMF program, which was sent to IMF Managing Director Christine Lagarde.

Original