According to Zheleznyak, the fifth review is expected to begin on Sept. 1, and could approve an additional $1.1 billion. The sixth review will start on Dec. 1, 2024, also potentially allocating around $1.1 billion.
IMF officials noted that despite challenging conditions, Ukraine's performance under the Extended Fund Facility (EFF) program remains strong.
"All quantitative performance criteria by the end of March were met, and all structural benchmarks for the end of June were completed on time or with minimal delay," the IMF stated.
The four-year EFF program amounts to approximately $15.6 billion and was approved on March 31, 2023. It is part of a broader $122 billion international support package for Ukraine.
In late March 2024, the IMF board approved the disbursement of the fourth tranche of approximately $880 million following the third review. This brought the total funding under the program to $5.4 billion.