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Ukraine receives $1.1 billion from IMF

The funds will cover key budget expenses as the conflict with Russia continues

Dec 23, 2024 13:56 107

Ukraine receives $1.1 billion from IMF  - 1

Ukrainian Prime Minister Denys Shmygal announced on Monday that the country has received $1.1 billion from the International Monetary Fund (IMF), News.bg reports.

These funds will be directed to basic budget expenses, which is of key importance for the country's economy in the conditions of the ongoing conflict with Russia.

Finance Minister Sergei Marchenko added that Ukraine has received a total of $5.4 billion from the IMF this year alone. These funds represent a significant part of the international financial assistance that Kiev receives.

While Ukraine relies on foreign support for social spending and stabilizing the economy, the government covers security and defense costs with its own revenues. This highlights the critical role of external assistance in budget management.

This financial support comes as Ukraine enters its third year of full-scale military conflict, which began after Russia's invasion in February 2022. International assistance remains a key factor in the country's resilience in the ongoing crisis.