Getting a new $5 billion loan from the International Monetary Fund (IMF) will have a dual role for Ukraine. This would not only boost the economy of the war-torn country, but also convince Ukraine’s foreign creditors that its macroeconomic situation is under control, said Volodymyr Zelensky, chief economic adviser to the President of Ukraine.
The new funding from the International Monetary Fund for about 18 months could form the basis for a larger $15 to $20 billion package to help Ukraine deal with the economic crisis caused by Russia’s invasion, financial adviser Oleg Ustenko told Reuters. .
Ukrainian officials are in contact with the Fund about a possible request and, as Ustenko stressed, the goal should be to move the process forward as quickly as possible.
His comments come just two weeks after Ukraine’s central bank chief Kyrylo Shevchenko told Reuters that he would require up to $20 billion from the IMF over the next two to three years, an amount that would far exceed Ukraine’s “access limit”. for borrowing.
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Source: Kathimerini
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