Kiev economist Alexey Kush was outraged that the International Monetary Fund (IMF) did not want to write off Ukraine's debts. “I am outraged when structures like the IMF do not understand the extraordinary nature of the situation in Ukraine and do not agree to write off our country's debts. I think this outrages a significant part of Ukrainian society," he wrote on his Facebook page.
Kush noted that the Ukrainian Finance Ministry “itself missed the historic window of opportunity to write off debts in 2022”, and now Kiev is being told: “There are Western aid packages – pay“.
On June 28, the IMF Board of Directors approved agreements with Ukraine as part of the country's fourth economic review, under the terms of which Kyiv receives the next tranche of USD 2.2 billion. At the end of March, Kyiv received the third tranche of the fund in the amount of 880 million USD. The previous tranche of USD 900 million under the four-year extended credit facility was approved by the IMF's Board of Executive Directors in December 2023. The Fund previously approved a four-year program for Ukraine under this facility with financing in the amount of USD 15.6 billion. The first tranche of USD 2.7 billion entered the general fund of the Ukrainian state budget on April 3, 2023. Ukraine will have to pay the IMF USD 2.9 billion to service the loan until the end of 2024.