IMF approves USD1.1B disbursement to Ukraine amid ongoing conflict


(MENAFN) The International Monetary Fund (IMF) executive board has approved a USD1.1 billion disbursement to Ukraine as part of its ongoing loan program aimed at providing budgetary support.

This approval strengthens Ukraine's position as it endures continued Russian assaults, and follows the IMF staff’s completion of the sixth review of a four-year loan program, valued at approximately USD15.5 billion, just over a month ago.

“Russia’s war in Ukraine continues to inflict a devastating social and economic toll on Ukraine,” said IMF Managing Director Kristalina Georgieva in a statement regarding the decision.

"Despite the ongoing war, macroeconomic stability is being maintained through effective policymaking by the Ukrainian authorities, alongside significant external support."

This latest disbursement brings the total amount released under the program since its initiation in March 2023 to roughly USD9.8 billion, according to the IMF.

Ukrainian Prime Minister Denys Shmygal expressed his gratitude, stating on his Telegram social media account, “I am grateful to the team of the International Monetary Fund for their consistent assistance to our country in difficult times.”

MENAFN24122024000045016755ID1109026159


MENAFN

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Newsletter