IMF disburses $880 million to Ukraine

According to the Kiev Independent, the Executive Board of the International Monetary Fund (IMF) confirmed that it will disburse $880 million to Ukraine. This is the third disbursement of the aid package worth a total of $15.6 billion.

IMF Managing Director Kristalina Georgieva meets with Ukrainian President Volodymyr Zelensky in Washington, DC, in November 2023. Photo: IMF

In a statement, IMF Managing Director Kristalina Georgieva confirmed the decision and said the conflict with Russia has posed many socio-economic challenges for Ukraine. She said Ukraine has maintained financial and macroeconomic stability, thanks to the policies of the Ukrainian government and significant external support.

President Volodymyr Zelensky welcomes IMF Managing Director Kristalina Georgieva in Kiev in February 2023. Photo: Office of the President of Ukraine

Ukraine’s economy has shown strong growth, with inflation falling and reserves rising in 2023, but the outlook for 2024 remains uncertain. According to recent IMF estimates, Ukraine will need at least $490 billion to rebuild after the conflict. The country’s growth is expected to slow to 3-4% in 2024.

The Ukrainian government expects the IMF's support to reach $5.4 billion. Ukrainian Prime Minister Denys Shmyhal said that with this amount, Ukraine will be able to focus its resources on defense, which is the country's number one priority.

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Source: https://www.sggp.org.vn/imf-giai-ngan-880-trieu-usd-cho-ukraine-post731830.html