The International Monetary Fund said on Tuesday it has reached a staff-level agreement with Ukraine for a four-year financing package worth about $15.6 billion.
The agreement, which must still be ratified by the IMF’s board, follows months of negotiations between IMF staff and Ukrainian authorities. The Fund said the agreement is expected to help unleash large-scale concessional financing for Ukraine from international donors and partners.
“A gradual economic recovery is expected over the coming quarters, as activity recovers from the severe damage to critical infrastructure, although headwinds persist, including the risk of further escalation in the conflict,” IMF official Gavin Gray said in a statement announcing the agreement. IMF staff currently expect the change in Ukraine’s real gross domestic for 2023 to range from -3% to +1%, Gray added.
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