Kiev: The International Monetary Fund and Ukraine have agreed to continue a four-year program, with a total value of more than 15 billion euros (USD 15.5 billion). Effective and well-coordinated cooperation with the IMF is one of the key elements in maintaining Ukraine’s financial stability in the face of uncertainty. Ukraine continues to work fruitfully on implementing jointly agreed reforms, Ukrainian Finance Minister Serhiy Marchenko said in a statement today.
According to Qatar News Agency, Kiev expects additional disbursements, worth about 5.4 billion euros, as part of agreements concluded in 2023. The IMF program is part of an international support package worth about 142 billion euros for the years from 2023 to 2027. The Central Bank of Ukraine said in its statement that the risks threatening the country’s economic prospects “remain exceptionally high” and that without foreign aid, Ukraine’s budget deficit would reach 19.6 percent of the country’s gross domestic product. The 3 percent deficit is considered the minimum for financial stability.