IMF, Ukraine reach staff agreement on next disbursement of $400 million

Officials from the International Monetary Fund and the Ukrainian government reached a staff-level agreement on the seventh review of Ukraine's $15.5 billion Extended Fund Facility (EFF) program, the fund said in a statement on Friday.

The agreement would pave the way to release about $400 million once approved by the IMF's board, the statement said.

The announcement follows eight days of negotiations between IMF experts and Ukrainian officials, and as the war-torn country faces uncertainty about the future of international economic support.

"Ukraine's four-year EFF Arrangement with the IMF continues to provide a strong anchor for the authorities' economic program in times of exceptionally high uncertainty," IMF official Gavin Gray, who led the IMF team's visit, said in the statement.

"The program remains on track on the back of critical external support," the statement said.

Ukraine's finance ministry said in a separate statement that the country "continues to work fruitfully on the implementation of the jointly agreed reforms."