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PM Shmyhal: IMF may launch $15 billion program for Ukraine

by The Kyiv Independent news desk February 20, 2023 9:50 PM 1 min read
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Kyiv expects the International Monetary Fund (IMF) to launch a new multi-year program for Ukraine amounting to $15 billion, Prime Minister Denys Shmyhal said after a Feb. 20 meeting with the IMF head Kristalina Georgieva.

"It is planned that the program with the IMF will consist of two parts: immediate financial support and support for structural reforms that will contribute to (Ukraine's) recovery," Shmyhal said on Telegram.

Georgieva and her team arrived in Kyiv on Feb. 20 to meet with Ukrainian officials and "discuss the mechanisms of financial support for Ukraine," according to the prime minister.

President Volodymyr Zelensky also met with the IMF chairwoman.

"The IMF's support creates an opportunity for Ukraine to remain strong. It is also a weapon — an economic weapon that enables us, our society, and our business to develop," reads Zelensky's post.

Georgieva said on Oct. 25 that Ukraine’s external financing needs in 2023 would be around $3 billion to $4 billion a month in a best-case scenario but could reach $5 billion as Russia targets the country’s critical infrastructure.

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