20.11.2024 10:23
The International Monetary Fund announced the completion of the sixth review of Ukraine's loan program and approved a payment of $1.1 billion. Total payments to Ukraine will reach $9.8 billion.
The International Monetary Fund (IMF) has reached an agreement for a payment of $1.1 billion while completing the sixth review of its loan program for Ukraine.
In a statement from the fund, it was reported that the IMF and Ukrainian officials reached a staff-level agreement on the sixth review of the four-year financing package.
The statement noted that Ukraine could access $1.1 billion, subject to the approval of the IMF Executive Board.
TOTAL FINANCING PROVIDED TO UKRAINE REACHED $9.8 BILLION
With the latest financing, it was stated that the total payments made to the country under the program would reach $9.8 billion, and it was reported that the Executive Board is expected to evaluate the matter in the coming weeks.
The statement expressed that the program's performance continues to remain strong, and that officials met all numerical performance criteria and structural criteria for the review as of the end of September, and also reached an agreement on a series of policies and reforms aimed at maintaining macroeconomic stability while the war continues.
IMF CRITICIZES RUSSIA
The statement noted that the outlook remains extremely uncertain, and that Russia's war in Ukraine continues to have a severe impact on the Ukrainian people, economy, and infrastructure.
The statement assessed, "Despite the devastating challenges arising from Russia's war in Ukraine, which has been ongoing for 1000 days, the economy continues to show resilience."