The International Monetary Fund (IMF) said its executive board approved a $2.2 billion disbursement to Ukraine to support its budget after the fund completed a fourth review of a $15.6 billion loan program for the war-torn country.
The fund said in a statement on Friday that Ukraine’s performance under the Extended Fund Facility program remained strong despite adverse conditions, that quantitative targets were met, and that structural benchmarks were implemented on time or with only minor delays.
The fund revised down its forecast for Ukraine’s gross domestic product growth in 2024 to a range of 2.5% to 3.5%, compared with a previous forecast of 3.2% in its World Economic Outlook in April.
The fund cited deteriorating consumer sentiment and business confidence due to recent developments in Russia’s operation in Ukraine, as well as increased attacks that have damaged Ukraine’s electricity infrastructure.
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