The IMF has released 1.1 billion to Ukraine, bringing to 8.7 billion dollars the funds already paid under the current aid program.
The International Monetary Fund (IMF) released an additional $1.1 billion to Ukraine on Friday, after its board of directors validated the agreement relating to the fifth review of the current aid program.
This agreement was signed in mid-September and the Fund’s board of directors validates them almost systematically. It brings to $8.7 billion the funds already paid to Ukraine out of the $15.6 billion planned by the program.
The aid is part of the international plan of 122 billion dollars
The latter is part of a major international aid plan totaling $122 billion, approved in March 2023 by all the countries supporting Ukraine since the start of the Russian invasion in February 2022. .
“The performance and commitments of the Ukrainian government under the program remain solid. All performance criteria have been met and those of September appear to be on track,” said IMF Managing Director Kristalina Georgieva, quoted in the press release.
However, due to the impact of the ongoing war, following the Russian invasion in February 2022, “economic recovery is expected to slow due to the impact of attacks on energy infrastructure and the risk to the outlook remains high “, she added.
Partial restructuring of Ukraine’s external debt
Among the recent measures put in place, the Ukrainian government announced at the end of July that it had reached an agreement allowing the partial restructuring of its external debt, for an amount of 20 billion dollars. An agreement which should enable savings of $11.4 billion over the next three years and $22.75 billion by 2033, the Ukrainian Ministry of Finance then specified.
The IMF called this agreement “an important step in the authorities’ overall strategy to restore debt sustainability.”
The organization said the Ukrainian authorities’ restructuring strategy and other measures “will be key to reducing Ukraine’s debt burden to sustainable levels, thereby creating room for maneuver for essential spending.” and support growth.
