IMF allocates $1.3 billion to Ukraine for financial support

The Executive Board of the International Monetary Fund (IMF) approved the transfer of $1.3 billion to Ukraine as part of the accelerated financing instrument. The money will go to the needs related to financing the balance of payments, including in the food sector.

The IMF notes that against the backdrop of hostilities in Ukraine, GDP has declined, inflation and budget deficits have risen, and trade has been undermined. The Fund also notes that the authorities have managed to “maintain an important level of macro-financial stability in these extremely difficult circumstances.” The IMF believes that the money will stimulate further support from Ukraine’s creditors and donors.

The IMF expects Ukraine’s GDP to fall by 35% in 2022. In the spring, the fund approved the allocation of $1.4 billion in emergency funding to Ukraine.

About support for Ukraine against the backdrop of a military operation – in the material “Kommersant” “Ukraine used a technique.”

Leonid Uvarchev

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