$15 billion program: G7 is ready to support Ukraine to receive funds from the IMF – mass media
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The “Big Seven” countries plan to offer decisive support to Ukraine to obtain access to financing from the International Monetary Fund by the end of March within the framework of the program, the cost of which is expected to exceed $15 billion.
It is reported Bloomberg with reference to informed interlocutors.
IMF representatives have already started negotiations with the US, agency sources said. Thus, US Treasury Secretary Janet Yellen discussed the lending program with IMF Managing Director Kristalina Georgieva in recent days, and the teams of the Ministry of Finance and the IMF are in daily contact.
Currently, the IMF and Ukraine are working on a multi-year aid package worth up to $16 billion, which will help cover the warring state’s financial needs and become a catalyst for additional international funding.
It is expected that this week the governments of the G7 countries – USA, Great Britain, Canada, Germany, France, Italy and Japan – will officially instruct their government officials to intensify interaction with the IMF and Ukraine to implement the ambitious program, the interlocutors say. Approval by the G7 is one of several IMF conditions for finalizing the deal.
Another condition of the program is ensuring the stability of Ukraine’s debt on the part of its main donors and creditors.
The plan would also require changes to the IMF’s lending rules, which typically do not provide full credit programs to countries in military conflict.
We remind you:
According to the results visit to Kyiv Georgiev statedthat the International Monetary Fund is ready to provide significant economic support to Ukraine within the framework of a new full-fledged credit program.
Ukraine is counting on the launch of a new multi-year major program with the IMF in the amount of more than 15 billion dollars.
In Warsaw, on Friday, February 17, the Mission of the International Monetary Fund to prepare for the review of the monitoring program ended – the Fund’s employees and the Ukrainian authorities reached an agreement at the staff level. Work on the new program continues.
The International Monetary Fund is just a few weeks away will complete the preparation support programs for Ukraine, currently the plan must be approved by the Fund’s management.
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