Ukraine Receives $1.1 Billion from IMF

Ukraine has received a new installment of $1.1 billion from the International Monetary Fund (IMF), announced by Prime Minister Denys Shmyhal.

The funds will be used to cover essential budgetary expenses. This marks the sixth payment to Ukraine under the IMF's Extended Fund Facility (EFF) program, increasing the total financial support to $9.8 billion.

External funding, including the $15.6 billion allocated to Ukraine under the EFF program over four years, is critical for Kyiv, particularly as the country faces significant budgetary pressure due to the ongoing conflict with Russia.

Shmyhal expressed gratitude to the IMF for its ongoing support during the war.

In 2023, Ukraine received $42.5 billion in foreign aid. The Ministry of Finance has highlighted the need for an additional $12 billion by 2025 to meet the country’s increasing financial needs.

Despite the ongoing war, Ukraine has managed to maintain macroeconomic stability with the help of effective government policies and substantial international support.

However, the IMF has emphasized the need for caution as risks rise, while the country’s financial sector remains stable.