Ukraine agrees with IMF on loan terms adjustment

The Ukrainian government has agreed with the International Monetary Fund (IMF) to ease some of the conditions required for a new $8.2 billion loan program. Prime Minister Yulia Svyrydenkova announced this on Saturday.

According to her, the fund's executive board could discuss the program at its next meeting. Kiev considers the approval of the package to be crucial, as it represents an important anchor for further international financial assistance. The IMF program is also linked to extensive support from the European Union, including a loan of €90 billion.

Svyrydenkova stressed that the agreement with the fund is essential for the stability of the country's public finances, which are facing the consequences of the war with Russia for the third year in a row. According to her, relaxing some of the conditions could speed up access to the necessary resources and strengthen the confidence of foreign partners in the continuation of economic reforms in Ukraine.

(reuters, sab)