WASHINGTON (Reuters) – The International Monetary Fund on Friday said its executive board approved a $2.2 billion disbursement to Ukraine for budget support after completing a fourth review of the war-torn country’s four-year, $15.6 billion loan program.
The IMF said in a statement that Ukraine’s performance under the extended fund facility program remains strong despite challenging conditions, with quantitative targets met and structural benchmarks implemented on time or with a short delay.
The Fund adjusted downward its 2024 GDP growth forecast for Ukraine to a range of 2.5-3.5%, compared to a prior forecast of 3.2% in the April World Economic Outlook. The fund cited deteriorating consumer and business sentiment due to the recent evolution of Russia’s invasion, as well as stepped-up Russian attacks that have damaged Ukraine’s power infrastructure.
(Reporting by David Lawder; Editing by Andrea Ricci)
