Ukraine’s Finance Ministry, IMF discuss new loan program

The relevant statement was made by the Ukrainian Finance Ministry, following a meeting between Ukrainian Finance Minister Sergii Marchenko and the IMF’s representatives, an Ukrinform correspondent reports.

“In the course of the meeting with the Managing Director of the IMF, the parties discussed the possibility of a new loan program to ensure the priority expenditures of Ukraine’s state budget for 2023,” the report states.

Marchenko thanked for timely financial assistance provided for Ukraine to overcome the economic consequences of the full-scale war.

“Today we can see Ukraine’s economy gradually recovering. However, amid active hostilities, it is crucial for us to launch a new cooperation program with the IMF to ensure the stability of the financial system. Ukraine’s additional financing needs for 2023 reach USD 3.5 billion per month,” Marchenko noted.

A reminder that, in March 2022, Ukraine received USD 1.4 billion as part of the Rapid Financing Instrument from the IMF. On October 7, 2022, the IMF directed an additional USD 1.3 billion in support to Ukraine’s state budget.

Photo: Ukrainian Finance Ministry

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