IMF could start new cooperation program with Ukraine next year

IMF could start new cooperation program with Ukraine next year

Ukraine has an agreement with the International Monetary Fund (IMF) to launch a new special program. The IMF mission will start working in October this year.

"Very important conversations were held with IMF Managing Director Kristalina Georgieva and the World Bank management, Mr. Trotsenburg and Ms. Bjerde. In fact, these are the two largest international financial organizations. And we were assured that they will continue to support Ukraine. In particular, we have an agreement with the IMF on the launch of a new special program. We expect that the mission to Ukraine will start working already in October this year, and the program [will be launched] next year," Prime Minister of Ukraine Denys Shmyhal said at the Cabinet’s meeting on September 27.

This year, Ukraine will receive a total of $2.8 billion from the IMF, he added.

The Prime Minister also noted that the issue of financial assistance was discussed with new British Prime Minister Liz Truss.

"Ukraine will receive $500 million from Britain for the purchase of gas, which will further strengthen our resilience during this heating season," Shmyhal noted.

He also emphasized that Ukraine was discussing the country's reconstruction plan with its Western partners and was raising the issue of resources necessary for the high-quality implementation of this plan.

"Up to $500 billion in Russian assets have been frozen in the West. We are lobbying for the adoption of a new international agreement and amendments to the national legislation of our partners so that the Russian frozen assets become the main resource for our reconstruction and European transformation," the Prime Minister emphasized.

As reported, Ukraine expects to receive announced official funding of $12 billion by the end of the year.


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