IMF board approves $15.6bn loan for Ukraine -statement

Canada Global (Web News) As Russia’s invasion entered its second year, the executive board of the International Monetary Fund on Friday approved a $15.6 billion financial package for Ukraine over four years as part of a $115 billion overall international support package, according to the IMF.

The fund said in a statement that the decision is anticipated to mobilise significant concessional financing from Ukraine’s international donors and partners to assist in resolving the country’s balance of payments issue, achieving medium-term external viability, and restoring debt sustainability.

The new Extended Fund Facility, according to the statement, would permit an immediate payment of almost $2.7 billion to Ukraine.

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