IMF approves $8.1 billion programme for Ukraine

Katerina Melnychenko
Katerina Melnychenko Deputy Editor-in-Chief
IMF approves $8.1 billion programme for Ukraine
photo by TG Yulia Svyrydenko
The IMF Executive Board approved a four-year extended financing programme for Ukraine worth $8.1 billion. The first tranche of approximately $1.5 billion will be disbursed in the near future.

The funds from the first tranche are planned to be used to finance the state budget deficit and support macro-financial stability.

The programme is designed to last four years and is part of a broader financial framework that provides for covering the projected budget deficit of $136.5 billion during this period.

The statement notes that the programme provides for the continuation of reforms that have ensured macroeconomic and financial stability in previous years.

The new cooperation programme with the IMF is defined as a cornerstone for all international financial support to Ukraine, in particular for obtaining a €90 billion loan from the European Union.

In addition to EU funding, there is also support from the G7 countries and international financial institutions, as well as a reduction in debt payments on official debt under the debt relief mechanism.

The partners confirmed the continuation of the current moratorium on servicing official debt and their readiness to complete the restructuring after the situation stabilises.

 
 
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