IMF’s new $15 billion program for Ukraine nearing conclusion

16 March, 04:36 PM
Vahram Stepanyan, IMF Resident Representative to Ukraine (Photo:Наталія Кравчук / NV)

Vahram Stepanyan, IMF Resident Representative to Ukraine (Photo:Наталія Кравчук / NV)

Ukraine expects to complete discussions on a new $15 billion program from the International Monetary Fund (IMF) in the coming days, IMF Resident Representative to Ukraine, Vahram Stepanyan, said in a statement on March 15.

"An International Monetary Fund (IMF) mission, led by Mr. Gavin Gray, held policy discussions with Ukrainian authorities in Warsaw, Poland from March 8-15, on their request for a Fund-supported program," Stepanyan said.

He described the discussions as productive.

"The discussions between IMF staff and the Ukrainian authorities were productive and very good progress has been made towards agreement on a set of policies that could underpin a Fund-supported program," he concluded.

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"Building on this progress, staff and the authorities expect to conclude the discussions in the coming days."

Earlier, IMF Managing Director Kristalina Georgieva said that the Fund is ready to provide substantial economic support to Ukraine under a new full-fledged loan program.

Prime Minister Denys Shmyhal said that Ukraine expects to receive over $15 billion in total.

In early February, Bloomberg reported, citing its own sources, that the IMF was considering a multi-year aid package worth up to $16 billion.

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