IMF approves $8.1 bln financial program for Ukraine, designed for 4 years

The International Monetary Fund has agreed to allocate $8.1 billion to Ukraine. The funds will be used to cover the budget deficit and stabilize the economy. This was announced by the Prime Minister of Ukraine Yulia Svyrydenko.

The first tranche, about $1.5 billion, will be received by Ukraine in the near future. It will be used to finance the budget deficit and support macro-financial stability.

“The program supported by the IMF is part of a broader financial framework designed to cover the projected state budget deficit of $136.5 billion over four years.

It provides for the continuation of reforms that have ensured macroeconomic and financial stability in previous years.”

Importantly, the new IMF cooperation program for Ukraine is the anchor for all international financial support, in particular for obtaining a loan of 90 billion euros from the European Union,” Svyrydenko noted.

Svyrydenko noted that, in addition to financing from the EU, this includes financing from the G7 countries, international financial institutions, as well as reducing debt payments on official debt through the debt relief mechanism.

“The partners confirmed the extension of the current moratorium on official debt servicing and the readiness to complete restructuring after the situation stabilizes,” the Prime Minister of Ukraine added.

Tags: Ukraine, credit