Ukraine and IMF agree on new support program worth over $8 billion: details
МВФ
Ukraine and the International Monetary Fund have agreed on a new 4-year support program worth $8.2 billion.
This was announced by Prime Minister Yulia Svirydenko.
According to her, the new program will finance critical expenditures, maintain macro-financial stability, and attract additional external support, which is critically important for us in the coming years.
The agreement still needs to be approved by the Board of Executive Directors of the International Monetary Fund.
In addition, the IMF confirmed the resilience of the Ukrainian economy. Svyrydenko emphasized that despite the blows to the energy sector and infrastructure, the Ukrainian economy is working.
The Prime Minister noted that the Cabinet of Ministers prepared the budget for next year in accordance with the framework of the new IMF program, taking into account “the effectiveness of spending every hryvnia.”
“Ukraine continues its course for reforms. Our priorities remain unchanged: macroeconomic stability, debt sustainability, transparency, and strong institutions. We are ready to continue implementing policies to combat the shadow economy, combat corruption, and strengthen governance in the public sector. In particular, the reset of corporate governance in state-owned enterprises is underway and the competition for the position of head of customs continues,” the official added.
Earlier, the International Monetary Fund offered Ukraine a new $8 billion loan program , which will become an important tool for attracting further international support.
As a reminder, the International Monetary Fund may suspend financial support for Ukraine due to Belgium’s refusal to support the European Union’s reparations loan of 140 billion euros.
As is known, the International Monetary Fund is putting pressure on the National Bank of Ukraine , calling for a controlled devaluation of the hryvnia — despite the fact that the country continues to suffer from the war.
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