The main issue that worries Ukraine on the eve of the IMF visit is that the G7 countries unblocked aid in the amount of $50 billion by using the income from Russia’s fixed assets.
A delegation from the International Monetary Fund will visit Ukraine in early September to assess the country’s financial prospects and decide whether to allocate another $1.1 billion to Kyiv under the Support and Recovery Program. Bloomberg reported this on Wednesday, August 28.
According to the publication, the IMF team will be in Ukraine for about a week, starting on September 4.
Bloomberg points out that the main issue that worries Ukraine on the eve of the IMF visit is the G7 countries unblocking aid in the amount of $50 billion by using proceeds from Russian fixed assets.
“Ukraine needs clarity on these funds to demonstrate that budget requirements are being met, as this is an important component for continued IMF support,” the report said.
Bloomberg recalled that according to the G7 agreement, Ukraine should receive these funds by the end of the year. At the same time, it was noted that the implementation of the plan is complicated due to the demands of the US and the risk of Hungary slowing down any EU decisions in support of Ukraine or sanctions against the Russian Federation.
The head of the IMF mission in Ukraine, Gavin Gray, believes that the war in Ukraine will continue next year. In this regard, Ukraine needs more money to finance the budget than previously thought.
Earlier, the IMF published an updated memorandum on Ukraine, the fulfillment of the conditions of which will determine additional support for Ukraine.
The IMF has also reportedly worsened its forecast for Ukraine’s GDP.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.