According to journalists, the Fund will have to revise its rules in order to allocate such money to a country where there is a war. In addition, Kyiv will have to take a number of measures.
The International Monetary Fund is set to provide Ukraine with a multi-year aid package of up to $16 billion to help meet the country’s needs and act as a catalyst for more international funding. Bloomberg writes about it, citing its sources.
The material says that the implementation of the program depends on a number of conditions, including the approval of the donors and creditors of Ukraine, as well as the G7 countries, which ensure the sustainability of the country’s debt.
Moreover, to implement the plan, the IMF will need to change its lending rules to give money to a country at war. In addition, the Ukrainian government will have to take a number of measures, including the successful completion of the Fund’s four-month non-cash loan.
Journalists write that the 3-4-year program should allocate $5 to $7 billion in the first year. The plan is likely to be decided by the end of March, with the first tranche arriving in April at best.
The IMF said it continues to work closely with Ukraine. The Ukrainian government declined to comment on the situation.
Two sources said that if the plan does not receive support from enough IMF member states, the fund could support Ukraine with the $1.3 billion Rapid Facility program.
And the building writes that when the war is over, Ukraine will need massive financial support to rebuild. This process can be quite slow. Ukraine’s economy is expected to grow by 0.3 percent after shrinking 30.3 percent last year.
Previously Focus He wrote that the UN said the war had devastated the Ukrainian economy. Experts said that the monthly budget deficit is estimated at $5 billion. The outlook for 2023 and 2024 is highly uncertain and will depend on a variety of factors.
We also remember that the EU found a way to transfer the frozen assets of the Russian Federation to Ukraine. As a first step, the possibility of pooling assets at European Union or international level to generate profits that could be used to finance the rebuilding of our country is being considered.
According to Shmyhal, it was also reported that the donation platform for the restoration of Ukraine began to work. According to Prime Minister Denys Shmygal, energy, demining, housing restoration and other infrastructure issues were raised at the first meeting.
Source: Focus
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