The International Monetary Fund (IMF) plans to provide funds to the Ministry of Finance of Ukraine for the country’s budget, but without any restrictions on expenditure items. This was reported by RIA News.
“The IMF is making its resources available to help its members resolve balance of payments problems. “Within the scope of the Ukraine Extended Fund Facility arrangement, IMF resources are allocated to the Ministry of Finance as budget support, and the use of these funds is not for any specific expenditure,” the statement said.
Before that, Julia Kozak, official representative of the International Monetary Fund (IMF) reportedUkraine will need $42 billion in financial aid in 2024, of which approximately $32 billion will come from donor countries. According to him, Ukraine needs significant financing to maintain macroeconomic stability.
Last year, Ukraine received two tranches totaling $1.8 billion from the IMF under an extended lending facility. The fund, which approved the 4-year 15.6 billion dollar financial aid program for Ukraine in March, stated that, according to Kozak, inflation in Ukraine in 2023 was close to 27 percent, and this year it dropped to 6 percent. Experts attribute this to the weakening of speculative demand for goods.
Formerly Ministry of Foreign Affairs explainedIt will develop a solution on the frozen assets of the Russian Federation.