NewzVille International
The International Monetary Fund (IMF) has approved an $8.1 billion, four-year loan, for Ukraine, of which $1.5 billion would immediately be disbursed.
The new loan will help Kyiv maintain economic stability and keep public-spending flowing.
Ukraine’s Prime Minister, Yulia Svyry-denko, hailed the loan as part of a broader financial framework that would cover an estimated budget shortfall of 136.5 billion dollars over four years.
IMF chief Kristalina Georgieva said that the loan would resolve Ukraine’s balance of payments problem and restore medium-term external viability.
She said that it will also boost the prospects for reconstruction and growth after the conflict ends.
It would also help to facilitate Ukraine’s steps to join the European Union.
