Ukraine receives IMF aid plan for 15.6 billion dollars

He International Monetary Fund (IMF) announced on Tuesday that it reached an agreement with the government ukrainian with a view to establishing an aid plan for a total of 15.6 billion dollars.

The plan would allowsustain the gradual economic recovery while creating the conditions for long-term growth, in a context of post-conflict reconstruction (with Russiandlr) and with a route towards accession to the European Union”, the IMF pointed out in a statement.

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The agreement will be presentedIn the next weeks” to the Fund’s board of directors for final validation.

“Beyond the terrible human cost, the Russian invasion of Ukraine continues to have a devastating effect on the economy: GDP fell 30% in 2022, much of the industrial sector was devastated, and poverty skyrocketed.”, indicated in the statement the head of the IMF mission, Gavin Gray.

Despite these obstacles, the Ukrainian government managed to “maintain financial and macroeconomic stability, particularly thanks to substantial international support and the implementation of sound policies”, he added.

In a statement, the US Treasury Secretary, Janet Yellen“greeting” the agreement of the Fund with Ukraine and added that, in the face of Russia, USA “will continue to support the government and the people of Ukraine for as long as necessary”.

Since February 24, 2022, when the war began, Ukraine has received more than $20 billion in loans or donations from the world Bank and more than $110 billion from the United States, including military support.

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A large part of these resources allowed Ukraine to keep public services running and pay salaries to its officials, as well as ensure care for internally displaced persons.

He IMF It estimates a partial and gradual economic recovery for Ukraine this year, particularly thanks to the maintenance of essential infrastructure, such as the electricity grid, which is still under attack by Russia.

Source: Elcomercio

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I am Jack Morton and I work in 24 News Recorder. I mostly cover world news and I have also authored 24 news recorder. I find this work highly interesting and it allows me to keep up with current events happening around the world.