The IMF has struck a deal with Ukraine to provide a $15.6bn loan and a long-awaited financial lifeline to Kyiv as it tries to shore up its economy in the face of Russia’s full-blown invasion of the country.
The multilateral lender announced the agreement on Tuesday after a series of talks with Ukrainian authorities in Warsaw held this month. It still needs to be approved by the IMF board, which is expected to happen in the coming weeks.
Gavin Gray, the IMF official leading the talks, said: “The staff-level agreement reflects the IMF’s continued commitment to support Ukraine and is expected to help mobilise large-scale concessional financing from Ukraine’s international donors and partners over the duration of the programme.”
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