Ukraine needs almost $32 billion of external financing in 2024, - IMF
According to the latest estimates of the International Monetary Fund (IMF), Ukraine’s external financing needs in 2024 are $31.9 billion, which is $3 billion more than the Fund had previously estimated.
This was stated by IMF Managing Director Kristalina Georgieva during the fourth ministerial roundtable on support for Ukraine, Censor.NET reports citing Liga.net.
"This will help the government run hospitals and schools, maintain essential public services, and withstand the rising costs of the war without jeopardising its hard-won macroeconomic stability," Georgieva said.
According to her, Ukraine's resilience is evident: last year's sharp economic downturn has been followed by a gradual recovery, with growth this year expected to be in the upper 1-3% range. Inflation has quickly slowed to single digits. The central bank's reserves have strengthened, partly thanks to external support.
So far, the Ukrainian authorities have made good progress in restoring the pre-war tax system, fighting corruption, and moving towards managed exchange rate flexibility, Georgieva added.
Large-scale international financial support, including the IMF's Extended Fund Facility (EFF), is an important element that supports this resilience, the Managing Director said.
In June, the IMF completed the first review of the programme, bringing IMF support to Ukraine this year to $3.6 billion out of the $15.6 billion available under the programme.
An additional $900 million will be available in December after the second review is completed and subject to the approval of the IMF Board of Directors, Georgieva said.
