Ukraine receives $890 million from IMF.

Ukraine's state budget has received £890 million from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) Arrangement, the Finance Ministry reported[1] on July 3. This is the second tranche of a £15.6 billion support package for Ukraine under the EFF's arrangement. Kyiv has already received £3,6 billion from the IMF, according to the ministry.

"Thanks to the provided funds, we can maintain economic stability in Ukraine and finance priority expenditures of the state budget," said Finance Minister Serhii Marchenko. The funds were disbursed as a result of the successful first revision[2] of the arrangement on June 29. According to the IMF, Ukraine has made significant progress in fulfilling its obligations under the EFF, despite Russian aggression.

With the EFF's support, Ukraine hopes to ensure macroeconomic stabilization, carry out critical structural reforms during the war, secure medium-term external viability, support sustainable growth, and speed up Ukraine's EU accession. According to the Kyiv School of Economics, the total damages in Ukraine caused by Russia's war reached[3] £147.5 billion as of April 2023.

Browder: 'West must hand Russian Central Bank's £350 billion to Ukraine for reconstruction' London-based American investor Bill Browder says people call him the "number one enemy" of Russian President Vladimir Putin and, more recently, an official "Friend of Ukraine." Browder has spent the last 13 years campaigning to freeze Putin's assets hidden in the West.

Now, he's fighting for them t...

[4] Dinara Khalilova

News editor

Dinara Khalilova is a news editor at the Kyiv Independent. She has previously worked as a fixer and local producer for Sky News. Dinara holds a BA in journalism from Taras Shevchenko National University of Kyiv and a Master's degree in media and communication from Bournemouth University in the UK.

References

  1. ^ reported (www.mof.gov.ua)
  2. ^ revision (kyivindependent.com)
  3. ^ reached (kse.ua)
  4. ^ Browder: 'West must hand Russian Central Bank's £350 billion to Ukraine for reconstruction'London-based American investor Bill Browder says people call him the "number one enemy" of Russian President Vladimir Putin and, more recently, an official "Friend of Ukraine." Browder has spent the last 13 years campaigning to freeze Putin's assets hidden in the West.

    Now, he's fighting for them t... (kyivindependent.com)

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