IMF releases billions in payment to Ukraine

IMF releases billions in payment to Ukraine

The International Monetary Fund has reviewed the loan program for Ukraine and has drawn a positive conclusion. This means the country will soon receive billions.

The Executive Board of the International Monetary Fund (IMF) on Thursday (local time) approved a third review of Ukraine’s $15.6 billion loan program, allowing the release of an $880 million loan. As the IMF announced, a total of $5.4 billion can be paid out to Ukraine. Ukraine will receive the funds in the coming days, the head of the IMF’s Ukraine mission, Gavin Gray, told reporters.

According to Gray, Ukraine performed well overall in the first year of the IMF program, meeting all but one of the quantitative performance criteria. As Gray further explained, the IMF assumes that the war in Ukraine will end by the end of 2024.

IMF demands timely payments to Ukraine

“Looking forward, the recovery is expected to slow somewhat as risks to the outlook are extraordinarily high, particularly due to exceptionally high levels of war-related uncertainty as well as possible delays in external financing,” IMF chief Kristalina Georgieva said in with an explanation. It is crucial that the foreign financing committed to Ukraine by all donors is disbursed in a timely and predictable manner to ensure Ukraine’s hard-won macroeconomic stability, Georgieva continued.

A critical factor for Ukraine’s future remains the return of an estimated 6.5 million people – mostly women and children – who have fled the country and are outside its borders due to the war.

Source: Stern

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