https://sputniknews.com/20230322/imf-says-reached-staff-level-agreement-on-156-billion-loan-program-for-ukraine-1108667305.html
IMF Says Reached Workers-Stage Settlement on $15.6 Billion Mortgage Program for Ukraine
IMF Says Reached Workers-Stage Settlement on $15.6 Billion Mortgage Program for Ukraine
The Worldwide Financial Fund (IMF) introduced that it has reached a staff-level settlement on a $15.6 billion mortgage program for Ukraine.
2023-03-22T01:52+0000
2023-03-22T01:52+0000
2023-03-22T01:50+0000
financial system
worldwide financial fund
ukraine disaster
mortgage program
/html/head/meta[@name=”og:title”]/@content material
/html/head/meta[@name=”og:description”]/@content material
https://cdnn1.img.sputniknews.com/img/102427/36/1024273600_20:0:982:541_1920x0_80_0_0_77d6cf81561ad6c90fbcee0a8a832b9d.jpg
“I’m happy to announce that the IMF group has reached a staff-level settlement with the Ukrainian authorities on a four-year IMF-supported program, with entry requested of SDR 11.6 billion (US$15.6 billion), or 577% of Ukraine’s quota,” IMF delegation chief Gavin Grey stated in a press release on Tuesday. The settlement is topic to approval by the IMF govt board, which is predicted to satisfy within the coming weeks to contemplate it. Grey stated the IMF expects to see a gradual financial restoration in Ukraine, noting that financial exercise is bettering in lots of sectors, together with in vital infrastructure. Nonetheless, growing a single baseline outlook state of affairs underneath exceptionally excessive uncertainty is exceedingly difficult, as a variety of outcomes are believable, Grey stated. “On that foundation, workers at present sees actual GDP development for 2023 starting from -3 to +1 %,” Grey stated, including that the IMF-supported program is predicated on a two-phased strategy. US Treasury Secretary Janet Yellen issued a separate assertion by which she welcomed the IMF announcement. The settlement took place on account of long-term collaborative work between the IMF and the Ukrainian authorities, Yellen added.
Sputnik Worldwide
feedback@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
2023
Sputnik Worldwide
suggestions@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
Information
en_EN
Sputnik Worldwide
suggestions@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
https://cdnn1.img.sputniknews.com/img/102427/36/1024273600_140:0:861:541_1920x0_80_0_0_bff1057f988711fbf997ab4adf749b22.jpg
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rosiya Segodnya“
worldwide financial fund, ukraine, mortgage program
worldwide financial fund, ukraine, mortgage program
WASHINGTON (Sputnik) – The Worldwide Financial Fund (IMF) has introduced that it has reached a staff-level settlement on a $15.6 billion mortgage program for Ukraine.
“I’m happy to announce that the IMF group has reached a staff-level settlement with the Ukrainian authorities on a four-year IMF-supported program, with entry requested of SDR 11.6 billion (US$15.6 billion), or 577% of Ukraine’s quota,” IMF delegation chief Gavin Grey stated in a press release on Tuesday.
The settlement is topic to approval by the IMF govt board, which is predicted to satisfy within the coming weeks to contemplate it.
Grey stated the IMF expects to see a gradual financial restoration in Ukraine, noting that financial exercise is bettering in lots of sectors, together with in vital infrastructure.
Nonetheless, growing a single baseline outlook state of affairs underneath exceptionally excessive uncertainty is exceedingly difficult, as a variety of outcomes are believable, Grey stated.
“On that foundation, workers at present sees actual GDP development for 2023 starting from -3 to +1 %,” Grey stated, including that the IMF-supported program is predicated on a two-phased strategy.
The primary part might take 12-18 months to enhance fiscal, exterior, value and monetary stability by bolstering income mobilization, eliminating financial financing and aiming at web constructive financing from home debt markets.
The second part would shift focus to extra expansive reforms to entrench macroeconomic stability, assist restoration and early reconstruction, and improve resilience and better long-term development, together with within the context of Ukraine’s EU accession objectives,.
US Treasury Secretary Janet Yellen issued a separate assertion by which she welcomed the IMF announcement. The settlement took place on account of long-term collaborative work between the IMF and the Ukrainian authorities, Yellen added.