The IMF on Monday said it has green-lit Ukraine’s immediate access to about $690 million after a review of its loan program.
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This would take the<a href="https://absafricatv.com/unionpay-international-signs-strategic-mous-with-the-central-bank-of-the-uae-al-etihad-payments-and-bank-of-china-abu-dhabi-branch-to-enhance-cross/” title=”UnionPay International Signs Strategic MoUs with the Central Bank of the UAE, Al Etihad Payments and Bank of China Abu Dhabi Branch to Enhance Cross”>International Monetary Fund’s disbursements under the $8.1 billion financing arrangement to around $2.2 billion.
The review comes as Ukraine pushes to maintain economic stability and act on reforms while Russia has escalated its bombardment of the country.
Ukraine is now in its fifth year of war after Russia’s invasion in early 2022.
“Ukraine has maintained macroeconomic and financial stability despite Russia’s continuing war, a more challenging external environment, and risks remaining exceptionally high,” the IMF said Monday.
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The fund added that Ukraine’s program performance has been “broadly satisfactory.”
IMF managing director Kristalina Georgieva said after the executive board’s discussion that “Ukraine continues to demonstrate remarkable resilience” in the face of the conflict.
“Preserving macroeconomic stability remains the immediate priority,” she added.
She urged for “prudent fiscal policy” and monetary policy, alongside measures to safeguard the resilience of the financial sector.
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