IMF provides $690 million in additional financing to Ukraine

The International Monetary Fund (IMF) has announced that it has concluded the first review process of the four-year, $8.1 billion loan program with Ukraine and has reached a staff-level agreement to provide an additional $690 million to the country. The disbursement of this payment will be subject to approval by the IMF Executive Board.

According to the IMF's statement, the review concluded that Ukraine has met all quantitative performance criteria and established indicative targets, although two of the structural reforms were implemented with delays, and one has not yet been completed. In response, a revised action plan, corrective measures, and additional policy commitments were agreed upon by the parties to maintain compliance with the program.

IMF officials also noted that the Ukrainian economy and population continue to face significant uncertainties due to the ongoing war. Despite this, it was stated that the program remains fully funded from a financial perspective thanks to comprehensive international support.

With this development regarding the loan program, the total financial support provided by the IMF to Ukraine to date will reach $2.2 billion upon approval.

News Source: 12punto