IMF completes Ukraine loan review, allows US$890mil withdrawal FMTNews FMTBusiness
The International Monetary Fund said Ukraine has made ‘strong progress’ toward meeting reform commitments under ‘challenging conditions’.
The IMF said Ukrainian authorities have made “strong progress” toward meeting reform commitments under “challenging conditions,” meeting quantitative performance criteria through April and structural benchmarks through June. IMF Ukraine mission chief Gavin Gray told reporters the IMF is continuing to study the social, environmental and economic impacts of the destruction of the Kakhovka dam earlier this month, which caused widespread flooding in southern Ukraine.
The IMF loan programme, approved under new rules that allowed lending into a highly uncertain situation, forms part of a total US$115 billion package of support, with US$100 billion coming from donor governments.
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