IMF approves USD 880 million in aid for Ukraine

World

Published: 2024-02-23 11:46

Last Updated: 2024-04-23 20:25


IMF approves USD 880 million in aid for Ukraine
IMF approves USD 880 million in aid for Ukraine

The International Monetary Fund (IMF) announced, Thursday, an agreement with Ukrainian authorities, in which the IMF will disburse approximately USD 880 million in funds to support the country.

This agreement was reached during a review of a broader four-year aid package approved by the organization in March last year, amounting to USD 15.6 billion. The program aims to facilitate the reconstruction of infrastructure and foster economic recovery in Ukraine.

However, for Ukraine to access the disbursement, it must fulfill several criteria, including the implementation of structural reforms to combat corruption. The ultimate decision rests with the IMF Executive Board.

Despite Ukraine's robust economic growth, reduced inflation, and strengthened reserves in 2023, as highlighted in an IMF statement, the outlook for 2024 "remains highly uncertain due to the ongoing conflict."

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