IMF to approve new tranche to support Ukraine’s resilience soon
Ukraine has successfully met all the targets of the International Monetary Fund (IMF) program, paving the way for the approval of the fifth tranche worth $1.1 billion. This was announced by U.S. Deputy Treasury Secretary Brent Nieman.
This decision is expected to be made during the annual meetings of the IMF and the World Bank to be held in October in Washington. At the working level, the IMF agreed to disburse the tranche on September 10, but the Fund’s Executive Board must give final approval.
“Ukraine has exceptionally well fulfilled all the structural benchmarks and indicators that were set for the summer. Therefore, I am confident that the revision will be approved in the near future and funding in the amount of $1.1 billion will be provided,” Nimen said.
The four-year IMF program totaling $15.6 billion is an important part of international support for Ukraine. Despite the hostilities, the country’s economy is showing stability, but growth is expected to slow due to the strikes on energy infrastructure.
The IMF forecasts that Ukraine’s economic growth will reach 3% in 2024, although risks remain high. Brent Niemen is confident that Ukraine will continue to maintain economic stability despite all the challenges.
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United States - Social Gov originally published at United States - Social Gov
