The IMF approved the allocation of 1.3 billion dollars to Ukraine
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The International Monetary Fund allocated $1.3 billion to Ukraine. Today, the organization’s executive board approved the funding, calling it emergency funding. This was announced by the head of the IMF Kristalina Georgieva.
Funds are allocated to “meet all the needs associated with financing the country’s balance of payments.” The IMF also stressed that this step will be an incentive for further financial assistance from Ukraine’s donors and creditors.
Earlier, the National Bank of Ukraine announced plans to apply to the Ministry of Internal Affairs for the allocation of $1.3 billion under the RFI anti-crisis financing program. At the same time, on Friday, the head of the Ukrainian Accounts Chamber, Valeriy Patskan, announced that the country’s national debt had been serviced. Next year, every fourth hryvnia from the budget revenue item will go for these purposes.
Meanwhile, IMF forecasts for Ukraine’s GDP are pessimistic. The Fund believes that by the end of 2022 it will decrease by 35 percent.
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