The IMF said Monday it had approved an economic monitoring program for Ukraine which could help Kyiv secure funding from donors, with the war-torn country needing more than $40 billion this year.
The monitoring program "is designed to help Ukraine maintain stability and catalyze donor financing amid very large balance of payment needs and exceptionally high risks," following the Russian invasion, the International Monetary Fund said in a statement.
They have four months to prove their progress as per the Program Monitoring with Board involvement scheme, the statement said. Ukraine needed between $40 billion and $57 billion to cover its budgetary and operating needs for 2023, Gray said. Russia's invasion "continues to have a devastating social and economic impact on Ukraine," with mounting civilian casualties and a third of the population displaced, IMF First Deputy Managing Director Gita Gopinath said in a statement.
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