IMF grants Ukraine $2.2 billion for fiscal and monetary stability

In line with the IMF, the Ukrainian financial system “continues to indicate resilience” / Picture: La Razón

The Board of Administrators of the Worldwide Financial Fund (IMF) authorized this Friday the fourth evaluate of the settlement signed with Ukraine, a choice that instantly supplies 2.2 billion {dollars} for the nation’s monetary and monetary stability.

In a press release, the IMF famous that Ukraine’s efficiency “stays stable” underneath the Prolonged Fund Facility (EFS) and that “regardless of troublesome situations” “all quantitative efficiency standards for finish of March”.

Moreover, “all structural benchmarks as much as the tip of June have been applied on time or with a brief delay,” the textual content added.

The Ukrainian financial system “continues to indicate resilience” though the outlook “stays topic to exceptionally excessive uncertainty.”

“Sustained reform momentum and well timed disbursement of exterior assist are wanted to safeguard macroeconomic stability, restore fiscal and debt sustainability and improve institutional reforms to pave the best way for accession to the European Union,” he added.

Ukraine’s 48-month SAF settlement permits the nation to entry $15.6 billion. It was authorized on March 31, 2023, and is a part of a $122 billion assist package deal for Ukraine.

Regardless of the struggle it has been waging in opposition to Russia for greater than two years, Ukraine’s financial system was “extra resilient than anticipated” within the first quarter of 2024, with “stable progress, continued disinflation and upkeep of sufficient reserves.”

Nevertheless, the outlook for the remainder of the yr and into 2025 has worsened because the third evaluate, largely on account of devastating assaults on Ukraine’s power infrastructure and uncertainty in regards to the period of Russia’s struggle in opposition to Ukraine, the IMF warns.

Washington / EFE