The International Monetary Fund (IMF) has completed its latest review of Ukraine's financing programme, clearing the way for the immediate release of around $690 million in additional support. The latest disbursement brings total funding under the programme to about $2.2 billion.
The decision brings total disbursements under Ukraine's current IMF loan programme to approximately $2.2 billion, the Fund said in a statement on Monday.
Ukraine is operating under an $8.1 billion IMF programme aimed at supporting economic stability, strengthening financial resilience and advancing reforms amid the ongoing war with Russia.
The latest review comes as Ukraine faces growing pressure on its economy due to intensified Russian attacks on critical infrastructure.
The IMF said Ukraine had managed to maintain macroeconomic and financial stability despite the impact of the war. However, it warned that the economic outlook had weakened because of continued strikes on key infrastructure and the wider effects of instability linked to the conflict in the Middle East.
The Fund said Ukraine's programme performance remained "broadly satisfactory", with all end-March quantitative performance criteria and indicative targets achieved.
However, Ukraine missed its end-June target for net international reserves, partly because of the impact of developments in the Middle East.
The IMF noted that the pace of reforms had slowed, with several structural benchmarks either delayed or not completed.
"To keep the programme on track, IMF staff and the Ukrainian authorities agreed on a revised timeline for reforms, corrective measures to address delays and additional policy commitments," the Fund said.
The agreement was reached in June as part of efforts to ensure continued progress under the financing programme.
IMF Managing Director Kristalina Georgieva said maintaining macroeconomic stability remained Ukraine's immediate priority.
She called for continued prudent fiscal and monetary policies, along with measures to strengthen the resilience of the country's financial sector.
The IMF has provided financial support to Ukraine throughout Russia's full-scale invasion, with assistance focused on helping Kyiv manage wartime economic pressures while implementing long-term reforms.
Russia has welcomed what it describes as a shift in Georgia’s approach to the August 2008 war, praising statements that place responsibility for the...
U.S. President Donald Trump has called for Iran to pay compensation for decades of deaths and damage, adding a new demand to peace talks as Tehran see...
Nvidia is teaming up with some of the biggest names in global finance in a move that underscores how artificial intelligence is rapidly becoming one o...
Flights arriving at Catania airport in eastern Sicily were suspended after volcanic ash from a new eruption of Mount Etna drifted into the airspace around the airport, disrupting operations at one of Italy’s busiest aviation hubs.
Greenland has issued a “strong warning” to a U.S. oil company linked to President Donald Trump after drilling equipment was brought ashore without the required government approvals, according to British media.
A deal on a new route for vessels through the Strait of Hormuz is "very close," Iranian Foreign Minister Abbas Araghchi has said, while warning that the reopening of the waterway depends on the U.S. meeting other conditions, including paying compensation to Iran.
Iran said it was nearing a final pact with Oman defining new shipping lanes between them through the Strait of Hormuz but repeated that the U.S. must meet other conditions.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of August, covering the latest developments.
Russia has welcomed what it describes as a shift in Georgia’s approach to the August 2008 war, praising statements that place responsibility for the conflict on former President Mikheil Saakashvili and his government.
U.S. President Donald Trump has called for Iran to pay compensation for decades of deaths and damage, adding a new demand to peace talks as Tehran seeks compensation and sanctions relief before reopening the Strait of Hormuz.
Thousands of lawsuits accusing some of the world's biggest social media companies of designing platforms that keep young users hooked can now move forward after a U.S. appeals court rejected an attempt to halt the litigation.
A growing oil spill from a stranded tanker carrying nearly one million barrels of Russian crude has raised environmental concerns off the coast of Oman, where authorities are racing to contain a slick that now covers hundreds of square kilometres near a protected marine reserve.
U.S. President Donald Trump has signed an executive order calling for a reduction in the number of vaccines routinely recommended for children and endorsing changes to how some immunisations are administered, reigniting debate over U.S. vaccine policy and public health.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment