IMF came forward to help Ukraine ruined by war, will give US $ 15.6 billion in debt
The IMF said in the statement that its debt assistance program would last four years with an emphasis on bridging Ukraine’s broad budget deficit for the initial 18 months.
Kiev: More than a year has passed since the war between Ukraine and Russia। There is a fierce war between the two countries। The two countries have done tremendous harm to each other but no one is willing to step back। Ukraine’s economy is completely ruined by the war। All the countries around the world are coming forward and doing financial help to help Ukraine। Meanwhile, the International Monetary Fund (IMF) has agreed to give Ukraine a loan of $ 15.6 billion to meet financial needs.
Debt assistance program will last four years
Ukraine’s Finance Ministry on Wednesday informed the IMF of agreeing on a loan assistance program, saying that this would allow Ukraine to win the war with ensuring its macro-financial stability Will help to meet reconstruction needs after। The IMF said in the statement that its debt assistance program would last four years with an emphasis on bridging Ukraine’s broad budget deficit for the initial 18 months। Apart from this, attention will also be given to meeting the requirements related to pension, salary and basic services by printing new notes.
Special force will be given on reconstruction work
In the remaining period of this program, special emphasis will be placed on making Ukraine a member of the European Union and reconstruction work after the war is over। This concessional financing assistance program is yet to be approved by the Board of Directors of the IMF। Its military spending has increased significantly since Russia’s attack on Ukraine in February 2022, while its economy size declined by about 30 percent last year.