The Washington-based International Monetary Fund (IMF) agreed to release a $15.6 billion loan package to Ukraine on Wednesday while reassuring contributors Kyiv has strong economic policies and is “fighting corruption.”
The Washington-based International Monetary Fund agreed to release a $15.6 billion loan package to Ukraine on Wednesday while reassuring contributors Kyiv has strong economic policies and is “fighting corruption.
The loan program will run for four years, with the first 12 to 18 months focusing on helping Ukraine close its massive budget deficit and easing the pressure to print money to use for spending, the IMF said in a statement as reported by AP. The loan program goes beyond previous IMF practice by lending to a country at war, under new rules that allowed assistance due to circumstances of “exceptionally high uncertainty.”, Ukraine has been beset by allegations of corruption to the highest levels of government since before the Russian invasion.
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