Ukraine to receive 1.1 billion from IMF

Source: Denys Shmyhal/Telegram

Ukraine has reached a preliminary agreement with the International Monetary Fund, IMF, that will see the war-torn country receive a financial aid package of $1.1 billion as part of the Extended Fund Facility program, according to Ukraine’s prime mininster Denys Shmyhal.

Breaking the news on his Telegram channel,  the prime minister said ‘the country continues its major reforms and the international partners are lending their support along the way”

The deal was reached after the IMF Mission visit to Kyiv earlier this month.

“The war in Ukraine continues to have a devastating impact on the country and its people,” said Gavin Gray, head of the IMF monitoring mission in Kyiv for the program’s review. Notably, this was the IMF’s first full-fledged mission in Kyiv since the start of the full-scale invasion.

The institution plays a crucial role as Ukraine’s key international creditor, and the four-year $15.6 billion EFF program is a central part of a broader global financial support package for Ukraine.