$16 billion: G7 countries to help Ukraine get money from IMF – Bloomberg

Journalists write that this week the governments of the G7 countries will instruct their officials to intensify interaction with the IMF and Ukraine to implement an ambitious program.

The G7 countries plan to provide key support to Ukraine’s efforts to gain access to International Monetary Fund financing by the end of March. Bloomberg writes about it.

The publication writes that US Treasury Secretary Janet Yellen recently discussed the loan program with IMF Managing Director Kristalina Georgieva. The Washington-based lender and Ukraine are exploring a multi-year bailout of up to $16 billion.

Journalists believe that this week the governments of the G7 countries will instruct their officials to intensify interaction with the IMF and Ukraine to implement an ambitious program.

The government of Ukrainian President Volodymyr Zelensky reportedly aims to conclude a new deal as early as next month, with the aim of raising $5 billion within a year.

The material says that a year after the start of a full-scale war with Russia, Ukraine is in serious need of access to finance. Thus, the Russian Armed Forces destroyed much of the national industrial base, greatly complicating grain exports, and also damaged infrastructure. This caused an economic contraction of around 30% last year.

Visiting Kiev this week to meet with Ukrainian officials, Georgieva said the IMF is ready to provide significant economic support under a new full-fledged loan program.

“The international community will continue to play a vital role in supporting Ukraine, including meeting major funding needs in 2023 and beyond,” Georgieva said. said.

help from the IMF

The publication writes that Ukraine has so far received 2.7 billion dollars in aid from the IMF under the Rapid Financing Facility, after Russia launched its invasion. To facilitate a full settlement, Kiev and the IMF are already collaborating on a cashless monitoring agreement seen as a precondition for a multibillion-dollar loan program.

Earlier, the Ministry of Finance had pointed out that the distribution of the return on loans provided by Ukraine to European Union countries is “completely equal”. In 2023, both grant and loan funds will be allocated to Ukraine.

We also remember that Reuters said that Romania was worried about the deepening of the Danube mouth by Ukraine. According to Deputy Minister of Infrastructure Yuri Vaskov, the Romanian side was informed of the work in August last year. Ukraine has not violated any international agreements by deepening the Bystroe mouth channel on the Danube to increase its food exports.

Source: Focus

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