2023-03-22T16:32:00+02:00 Economy 2024-04-15T04:53:30+03:00

Ukrainian news

Ukrainian news

Ukraine And IMF Reach Staff-Level Agreement On 4-Year Program For USD 15.6 Billion

Ukraine And IMF Reach Staff-Level Agreement On 4-Year Program For USD 15.6 Billion

The International Monetary Fund (IMF) has reached a staff-level agreement on a four-year program of support for Ukraine in the amount of USD 15.6 billion.

This is evidenced by the statement of Ukraine chief for the IMF, Gavin Gray, and the message of the head of the National Bank of Ukraine (NBU) Andrii Pyshnyi.

According to Gray, the agreement still has to be approved by the Board of Directors of the International Monetary Fund.

He added that IMF representatives and Ukrainian officials spent several months negotiating to reach this agreement.

The support package is "expected to help mobilise large-scale concessional financing from Ukraine’s international donors and partners," Gray said.

The head of the NBU Andrii Pyshnyi also confirmed information about this on his Facebook page.

"Very good and fast result, despite all the circumstances. Thanks to such a program, Ukraine gets the opportunity to raise about USD 15.6 billion from the IMF over four years," he wrote.

Pyshnyi called the cooperation of the International Monetary Fund and Ukraine historic, stressing that the agreement will allow strengthening and quickly restoring the Ukrainian economy.

As Ukrainian News Agency earlier reported, on March 18, Forbes Ukraine published a list of conditions that Ukraine promised to fulfill under the new IMF program.

Recall, on February 20, Prime Minister Denys Shmyhal said that Ukraine is counting on a multi-year IMF program of more than USD 15 billion.