2024-03-21 23:53:00
Moscow. March 22. INTERFAX.RU – The International Monetary Fund (IMF) has agreed to allocate a third loan tranche to Ukraine in the amount of $880 million, according to a press release issued by the fund.
“The IMF Board completed the third review of the extended agreement under the Extended Fund Facility (EFF) for Ukraine, which allowed the authorities to raise the equivalent of approximately $880 million, which will be used for its budgetary support,” the IMF document notes.
It is emphasized that “the EFF continues to serve as a reliable support for the authorities’ economic program, which remains in force despite the extremely difficult circumstances” associated with the fighting.
Following the Executive Board’s discussion on Ukraine, IMF Managing Director Kristalina Georgieva said the fighting in Ukraine “continues to impose enormous social and economic costs.” However, she said, “macroeconomic and financial stability was maintained, which reflects the skillful policies of the Ukrainian authorities, as well as significant external support.”
Georgieva noted that the Ukrainian economy “was resilient, with stronger-than-expected macroeconomic indicators in 2023.”
“Sustained momentum for reforms aimed at strengthening anti-corruption and governance frameworks, including ensuring the effectiveness of anti-corruption institutions, will be essential to containing financial risks, accelerating economic growth and supporting the path to EU accession,” the managing director of the fund emphasized.
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