$15.6 Bln Credit IMF-Ukraine

by Roman Cheplyk
Thursday, March 23, 2023
$15.6 Bln Credit IMF-Ukraine

Ukraine to receive funds via a "Staff level agreement" during 4 years 

The website of the IMF published a report on the agreement with Ukraine regarding credit financing. The $15.6 billion extended loan program will last 4 years. It is currently hosted by Staff level agreement. The board of directors will review the agreement in the first half of spring. After approval, the amount will be divided into 2 periods. The first period of funding will last 1.5 years. The rest will be transferred in the next 2.5 years. Financial resources will be directed to Ukraine to strengthen the country's fiscal, external, price, and financial stability.

The IMF program will also support the country's reform: changes in legislation, anti-corruption procedures, and consolidation of macroeconomic stability. The credit program should result in a jump-start to the pre-war economy of the country, reconstruction of cities after the war, and others. It is expected that the funding will help Ukraine to join the EU.

In addition, the head of the IMF mission, Gavin Gray, believes that the agreement with Ukraine will improve international cooperation and investment in the country. The fund program will provide extensive concessional funding with partners and donors.

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