IMF Completes Eighth Review of Ukraine's Support Program Amid Ongoing Risks
The International Monetary Fund completed its eighth review of Ukraine's $15.5 billion support program, disbursing an additional $500 million. The IMF noted ongoing risks and affirmed Ukraine's macroeconomic stability. New benchmarks were set for financial reforms, and the 2025 growth forecast remains at 2-3 percent.
The International Monetary Fund (IMF) on Monday concluded its eighth review of Ukraine's $15.5 billion support program, announcing a new disbursement of $500 million to assist the war-stricken nation. This brings the total disbursement to $10.6 billion under Ukraine's Extended Fund Facility, the IMF confirmed in a statement.
Despite the severe impact of Russia's ongoing war, Ukraine has maintained macroeconomic stability through adept policymaking and significant external aid, according to Gita Gopinath, IMF's First Deputy Managing Director. The IMF warned of 'exceptionally high' risks but acknowledged Ukraine met all performance criteria.
The review established four new benchmarks to enhance Ukraine's financial market infrastructure. Ukrainian authorities have also sought to rephase IMF financing to cater to 2025 needs, with the IMF projecting a growth forecast of 2-3 percent amid challenges like reduced gas production and agricultural exports.
(With inputs from agencies.)
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