IMF opens the purse strings: $2.2 billion loan

The International Monetary Fund (IMF) has reached a staff-level agreement for a disbursement of approximately $2.2 billion as it completes the fourth review of its loan program for Ukraine.

In a statement from the Fund, it was reported that the IMF and Ukrainian authorities have reached a staff-level agreement regarding the fourth review of the 4-year, $15.6 billion total financing package.

The statement noted that, subject to approval by the IMF Executive Board, Ukraine would be able to access approximately $2.2 billion.

GROWTH EXPECTATIONS IN THE UKRAINIAN ECONOMY

The statement, which indicated that an updated set of economic and fiscal policies had been agreed upon to maintain macroeconomic stability and advance economic reforms, reported that the Ukrainian economy continued to show resilient growth in the first quarter of 2024 and maintained its fight against inflation.

The statement also pointed out that risks remain high and are increasing as the war continues, noting that the outlook for the remainder of the year remains highly uncertain.