(Reuters) -The International Monetary Fund said on Monday it has completed its eighth review under an extended arrangement as part of the Extended Fund Facility for Ukraine, providing the country with
IMF Approves $500 Million Disbursement for Ukraine Amid Ongoing Conflict
(Reuters) -The International Monetary Fund said on Monday it has completed its eighth review under an extended arrangement as part of the Extended Fund Facility for Ukraine, providing the country with a disbursement of about $500 million (SDR 0.37 billion).
Total disbursements under the IMF-supported program for Ukraine will reach $10.6 billion with the new $500 million which will be channeled for budget support, the fund said.
IMF said that it maintains Ukraine's 2025 growth forecast at 2%-3%, as a smaller electricity deficit is balanced by lower gas production and weaker agricultural exports.
"Russia's war continues to take a devastating social and economic toll on Ukraine. Nevertheless, macroeconomic stability has been preserved through skillful policymaking as well as substantial external support" the first deputy managing director of the fund Gita Gopinath said.
"The economy has remained resilient, but the war is weighing on the outlook, with growth tempered by labor market strains and damage to energy infrastructure," Gopinath added.
Ukrainian authorities are continuing work to complete their debt restructuring strategy, which is essential to create room for priority expenditures, reduce fiscal risks, and restore debt sustainability, the IMF said.
(Reporting by Gursimran Kaur in Bengaluru;; Editing by Chizu Nomiyama )
