The IMF has confirmed Ukraine’s need for $42 billion in external financing next year.
The Executive Board of the International Monetary Fund plans to meet on December 11 to discuss the second revision of the EFF program for Ukraine, which will open the possibility of receiving the next tranche for the Ukrainian economy. This was announced by the director of the Foundation’s Communications Department, Julia Kozak, reports Ukrinform.
According to him, if the decision is positive, the next tranche under the IMF program for Ukraine will be about $900 million.
The IMF confirmed that to ensure financial and foreign economic stability, Ukraine needs at least $42 billion in external support by 2024.
“In 2024, according to IMF estimates, the country will need about $42 billion in financing. And the support from the international community, including the EU, US and G7, as well as, of course, international financial institution, is necessary for the country to return to the path of fiscal and external stability,” said a representative of the fund.
At the same time, he added that the Ukrainian economy continues to show great stability.
Let’s recall that in the most recent forecast for Ukraine, the IMF improved its GDP growth expectations to 4.5% for 2023. In addition, the country’s inflation rate has decreased significantly and the foreign exchange market has stabilized, which allowing Ukraine to move to a managed exchange rate regime.
In 2023, Ukraine received two tranches from the IMF for $2.7 billion and $890 million. A tranche of $900 million is expected in December. The total amount of financial support for Ukraine will reach $45 billion.
According to the National Bank, in the second half of 2024, Ukraine must return $1.925 billion to the IMF, of which $1.516 billion is the principal amount, $408 million is interest.
Source: korrespondent
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