Shmyhal, IMF team discuss funding for Ukraine in 2024

Shmyhal, IMF team discuss funding for Ukraine in 2024

Ukrainian Prime Minister Denys Shmyhal and an International Monetary Fund (IMF) team headed by Uma Ramakrishnan, Deputy Director of the Fund's European Department, have discussed the implementation of reforms and financing of Ukraine this year.

Shmyhal announced this on his Telegram channel, Ukrinform reports.

"I thanked [the IMF] for the successful second review of the $15.6 billion Extended Fund Facility. We discussed the implementation of reforms and financing of Ukraine this year. The government is working hard with partners in this direction. We have a positive decision on the Ukraine Facility worth EUR 50 billion and support from the G7 countries," he said.

Read also: Shmyhal on confiscation of Russian assets in EU: we find best legal solution

According to him, he "noted the effectiveness of the Ukrainian grain corridor and its positive impact on the economy."

"We outlined the points of GDP growth, including the development of the defense and industrial complex. We have significant potential," he added.

Shmyhal also spoke about work in the area of confiscation of frozen Russian assets.

"This year, together with our partners, we expect to work out a mechanism that will allow us to use these assets for the recovery of our country," he said.

"The IMF is one of the largest financial partners of our country. In total, in 2022-2023, the Fund provided Ukraine with more than $7 billion. This year, we expect $5.4 billion from the IMF. We are working systematically to ensure macroeconomic stability," Shmyhal said.

On February 12, the IMF team starts meetings in Kyiv with the Ukrainian authorities and other stakeholders.

Photos: Cabinet of Ministers of Ukraine

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