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IMF reaches staff agreement on Ukraine loan review; will enable US$900 million disbursement

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WASHINGTON: The International Monetary Fund said on Tuesday (May 30) that it has reached a staff-level agreement with Ukraine for the first review of the war-torn country's US$15.6 billion IMF loan program, which would allow for a US$900 million disbursement to Kyiv upon approval by the IMF Executive Board.

The IMF said in a statement that the board is expected to consider the staff-level agreement in the coming weeks.

The IMF said Ukraine's performance under the arrangement's economic program has been strong, and all quantitative performance criteria for end-April targets were met. Structural benchmarks through end-May were also met. But challenges, including a"horrific" humanitarian toll, and the destruction from the war's attacks, continue to have a"devastating impact on the economy", the IMF said.

 

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