IMF agree on $15.6 billion loan package to Ukraine

Duarte Mendonca in London

The International Monetary Fund (IMF) has agreed to supply Ukraine with a $15.6 billion loan to help stave off financial woes due to the war with Russia, it said in a statement Tuesday.

The package — which is subject to approval by the IMF’s executive board — aims to support Ukraine’s recovery as the invasion perpetrated by Russia “continues to have a devastating impact on the economy,” said Gavin Gray, the IMF’s mission chief for Ukraine.

“The overarching goals of the authorities’ program are to sustain economic and financial stability in circumstances of exceptionally high uncertainty, restore debt sustainability, and support Ukraine’s recovery on the path toward EU accession in the post-war period,” Gray said.

The funds are being delivered as part of a four-year agreement reached between the IMF and Ukraine.

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