The director of the IMF came to Ukraine to discuss the credit program

Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva arrived on Monday, February 20, on a visit to Ukraine. The president’s office reported that she first visited Irpen, which was destroyed during the Russian occupation, but is now being rapidly restored, and then met with Vladimir Zelensky.

The Ukrainian government is counting on a new multi-year IMF program in the amount of more than 15 billion dollars. It is planned that this program will consist of two parts: immediate financial support and support for structural reforms that will contribute to the recovery of the country. Prime Minister of Ukraine Denys Shmyhal stated this after the meeting in Kyiv with Kristalina Georgieva.

In the period from December 2022 to February 2023, Ukraine successfully passed the IMF monitoring program, which opened the way for it to start negotiations on new financing. The last IMF credit program for Kyiv ended early due to the Russian military invasion. After that, the IMF allocated two tranches of emergency aid to Ukraine for a total of 2.7 billion dollars.

• Earlier, Prime Minister Fumio Kisida announced the allocation of 5.5 billion dollars to Ukraine for the restoration of war-damaged infrastructure.
• At the beginning of 2023, the German government also announced that it was ready to redirect the seized Russian assets to the aid of Ukraine after all the legal details of this procedure were resolved.
• At the end of the year, the US Senate supported an amendment to the federal budget that would allow the use of confiscated Russian assets to aid Ukraine. The document regulates the use of funds received from Russian oligarchs.