Money from the US, EU, and IMF: Shmyhal talks about key agreements with partners
Kyiv • UNN
Ukraine will receive $50 billion from frozen Russian assets, $7.9 billion from the US, €1.9 billion from the EU, and potentially $2.2 billion from the IMF, which will strengthen its economic and financial stability.
This month, Ukraine made important gains for its economic and financial stability. In particular, Kyiv will receive an additional $50 billion this year by using the proceeds from the frozen Russian assets. Also, the agreement signed with the United States will provide almost $7.9 billion in financial support in 2024. In addition, Ukraine may receive $2.2 billion as a result of the IMF Board meeting. This was stated by Prime Minister Denys Shmyhal during a government meeting on June 28, UNN reports .
This year Ukraine will receive an additional $50 billion from our allies through the use of profits from Russian sovereign assets frozen in the West. The decision was made at the G7 summit. For us, this is a victorious, but still intermediate step
He also added that Ukraine will work to confiscate all frozen Russian assets.
In addition to the decision on additional 50 billion, Ukraine, according to Shmyhal, has reached three more key agreements in the financial sphere.
In particular, Ukraine and the United States signed an agreement that will provide almost $7.9 billion in financial support this year. In addition, Ukraine has signed an agreement with the EU to attract funding under the Ukraine Facility for the next 4 years. Yesterday, 1.9 billion euros were disbursed under this program.
The IMF Board of Directors will meet today. We expect that Ukraine will receive USD 2.2 billion as a result of this meeting. For the first time in history, our country has already undergone four reviews under one program with the IMF
According to Denys Shmyhal, thanks to all these agreements with the EU, the IMF, the US, the World Bank, the G7 countries and our other allies, the Government of Ukraine clearly understands how it will finance the budget deficit not only this year but also next year.
"We understand how we will finance social programs and other critical expenditures. It is difficult to overestimate the importance of these decisions and agreements for the stability of our financial system and further economic recovery," Shmyhal assured.
