IMF Approves $15.6 bn Ukraine Loan Package
Russia's invasion has devastated Ukraine's economy, causing activity to contract by around 30 percent last year, according to the IMF.
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Russia's invasion has devastated Ukraine's economy, causing activity to contract by around 30 percent last year, according to the IMF.
The International Monetary Fund has approved a $15.6-billion support package for Ukraine to assist with the conflict-hit country's economic recovery.
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The four-year EFF program of the International Monetary Fund (IMF) for Ukraine also provides the country with receiving $80 billion during this period from multilateral and bilateral donors, of which $20 billion in grants and $60 billion in soft loans, as well as another $20 billion in the form of relief from debt operations, IMF mission chief for Ukraine Gavin Gray said.
The basic scenario of the four-year EFF program of the International Monetary Fund (IMF) for Ukraine assumes the winding down of the war in the middle of 2024, while the negative one – by the end of 2025, IMF mission chief for Ukraine Gavin Gray said.