IMF, Ukraine Reach Staff Level Agreement on $15.6b 'EFF Arrangement'

IMF logo / Reuters
IMF logo / Reuters
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IMF, Ukraine Reach Staff Level Agreement on $15.6b 'EFF Arrangement'

IMF logo / Reuters
IMF logo / Reuters

The International Monetary Fund announced on Tuesday that it reached with Ukrainian authorities a staff have a staff-level agreement that would be supported by a new 48-month Extended Fund Facility (EFF) Arrangement.

It said the EFF, with requested access of around $15.6 billion aims to support the Ukrainian authorities anchor policies that sustain fiscal, external, price and financial stability, and support the ongoing gradual economic recovery, while promoting long-term growth in the context of post-war reconstruction and Ukraine’s path to EU accession.

IMF Mission Chief for Ukraine Gavin Gray made the announcement, saying the agreement with the Ukrainian authorities is on a 4-year IMF-supported program, noting that it would be subject to approval by the IMF Executive Board, with Board consideration expected in the coming weeks.

“The staff-level agreement reflects the IMF’s continued commitment to support Ukraine and is expected to help mobilize large-scale concessional financing from Ukraine’s international donors and partners over the duration of the program," he added.



Türkiye Says It Is Closely Monitoring PKK Disbandment to Secure Peace 

A protester waves a flag bearing a portrait of Abdullah Ocalan, the leader of the Kurdistan Worker's Party (PKK) jailed in Türkiye since 1999, during a demonstration calling for his release in the Kurdish-majority city of Qamishli in northeastern Syria on February 15, 2025. (AFP)
A protester waves a flag bearing a portrait of Abdullah Ocalan, the leader of the Kurdistan Worker's Party (PKK) jailed in Türkiye since 1999, during a demonstration calling for his release in the Kurdish-majority city of Qamishli in northeastern Syria on February 15, 2025. (AFP)
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Türkiye Says It Is Closely Monitoring PKK Disbandment to Secure Peace 

A protester waves a flag bearing a portrait of Abdullah Ocalan, the leader of the Kurdistan Worker's Party (PKK) jailed in Türkiye since 1999, during a demonstration calling for his release in the Kurdish-majority city of Qamishli in northeastern Syria on February 15, 2025. (AFP)
A protester waves a flag bearing a portrait of Abdullah Ocalan, the leader of the Kurdistan Worker's Party (PKK) jailed in Türkiye since 1999, during a demonstration calling for his release in the Kurdish-majority city of Qamishli in northeastern Syria on February 15, 2025. (AFP)

Türkiye is closely monitoring any attempts to undermine its peace initiative with the PKK, a senior official said Tuesday, following the militant Kurdish group’s announcement that it is dissolving and ending its decades-long armed conflict with the Turkish state.

The PKK, designated as a terrorist organization by several, announced the historic decision on Monday months after its imprisoned leader called for the group to formally disband and disarm — a move that could bring an end to one of the Middle East’s longest-running insurgencies.

In making the call, the PKK leader stressed the need for securing Kurdish rights through negotiation rather than armed struggle.

Previous peace efforts with the group have failed, most recently in 2015. Given the past failures, a close aide to President Recep Tayyip Erdogan expressed determination to uphold the current initiative and prevent any disruptions.

“We are closely following attempts to sabotage the process and we will not allow anyone to test our state’s determination in this regard,” Fahrettin Altun, the head of the Turkish presidential communications office said.

The PKK initially launched its struggle with the goal of establishing an independent Kurdish state. Over time, it moderated its objectives toward autonomy and greater Kurdish rights within Türkiye. The conflict, which has spilled into neighboring Iraq and Syria, has claimed tens of thousands of lives since it began in the 1980s.

The latest peace effort, which the government has labeled “Terror-Free Türkiye” was launched in October, after a key ally of Erdogan suggested parole for PKK leader Abdullah Ocalan if the PKK renounces violence and disbands.

Officials have not disclose details about the process that will follow the PKK’s decision.

Media close to the government have reported that the PKK’s disarmament process is expected to take three to four months, with weapons being collected at designated locations in northern Iraq under official supervision.

According to Hurriyet newspaper, the disarmament could be overseen jointly by Türkiye and the Kurdistan Regional Government in Iraq or through a commission involving Türkiye, the United States, European Union nations and Iraq.

The newspaper also suggested that high-ranking PKK members may be relocated to third countries, while lower-ranking militants without arrest warrants could return to Türkiye once a legal framework is established to facilitate their reintegration.

Turkish officials have not responded to requests for comment on the report.

Analysts expect Ocalan to see improved prison conditions following the PKK's disbandment.

Erdogan said Monday the PKK’s declaration should apply to all PKK-affiliated groups, including Kurdish groups in Syria.

The Kurdish fighters in Syria have ties to the PKK and have been involved in intense fighting with Turkish-backed forces there. The leader of the US-backed Kurdish-led Syrian Democratic Forces previously said Ocalan’s call for a dissolution does not apply to his group in Syria.

The group then reached an agreement with the central government in Damascus for a nationwide ceasefire and its merger into the Syrian army. Despite the deal, Kurdish officials in Syria later declared their desire for a federal state, sparking tensions with the Syrian government.

Some believe the main aim of the reconciliation effort is for Erdogan’s government to garner Kurdish support for a new constitution that would allow him to remain in power beyond 2028, when his term ends.