Ukraine will need $42 billion in international assistance in 2024 - IMF
Kyiv • UNN
The IMF estimates Ukraine's financing needs for 2024 at $42 billion and calls on donors to fulfill their commitments to ensure stability.
Ukraine's financing needs will remain significant in 2024. This was reported by IMF Communications Director Julie Kozak, UNN writes.
Ukraine's financing needs will remain substantial in 2024. We estimate that the country will need about $42 billion in financing, including about $32 billion in official donor support
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She emphasized the importance of Ukraine's donors and partners fulfilling their financial commitments and of Ukraine receiving the funding it needs to maintain macroeconomic stability in the country.
Julie Kozak also reminded that in December, the IMF completed the second review of the Extended Fund Facility (EFF) program for Ukraine, which allowed disbursing about USD 900 million and brought the total amount of disbursements to Ukraine under the program to USD 4.5 billion. She noted significant progress in fulfilling Ukraine's obligations under the EFF program.
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In addition, the IMF representative noted that the Ukrainian economy is demonstrating resilience in a difficult environment, although it is subject to extremely high uncertainty. According to the IMF's forecast, which was published in December, growth in 2023 will be 4.5%. Julie Kozak also noted that Ukraine has made significant progress in reducing inflation. Inflation in 2022 was almost 27%, and in 2023 it is expected to reach 6%.
