Keev: The International Monetary Fund (IMF) and Ukraine have agreed to continue a four -year program with a total volume of more than € 15 billion (US $ 15.5 billion), stating the German news agency (DPA).
“Effective and well -cooperated with IMF is one of the major elements in maintaining the financial stability of Ukraine in front of uncertainty. According to a statement, Ukraine has continued to function with fruits on the implementation of joint reforms jointly agreed.
Kiev is expected to pay approximately € 5.4 billion as part of the agreements made in 2023. The IMF program is part of an international support package, slightly higher than € 142 billion from 2023 to 2027.
The Ukrainian Central Bank stated that the risks to the country’s economic approach remain “exceptionally high in its statement”. Without foreign aid, Ukraine’s budget deficit will be at 19.6 percent of the country’s GDP (GDP). The value of three percent for financial stability is considered a limit.
The state budget of the country attacked by Russia in 2022 is funded in about half of abroad. Annually, about € 40 billion foreign funds are required.
A potential loss of American support may put the Kiev under severe pressure. According to the Ukrainian Finance Ministry, the United States contributed equal to an average of about € 10 billion annually in the Ukraine budget.
On the previous day, the conversation between US President Donald Trump and Ukrainian President Volodimier Zelanski at the White House was reduced to uncertain with a planned cooperation agreement in the commodity sector.
