The IMF announced a transfer of 900 million dollars to Ukraine

Executive Board in International Monetary Fund (IMF) approved this Monday the second revision of the agreement signed with Ukraine, a decision that exempts the reversal of 900 million dollars for Kyiv.

This payment is part Expanded Fund Services Agreement (EFF, in English), a 48-month package signed with Ukraine last March in a total value of 15.6 billion dollars.

“Despite the Russian war in Ukraine, macroeconomic indicators were stronger than expected, contributing to an upward revision of the growth outlook,” the Fund noted in a statement.

“Economic resilience has resulted in improved growth conditions, continued strong disinflation and a stable foreign exchange market,” he added.

The fund raised its GDP growth forecast for 2023 to 4.5%, while it believes it will be between 3 and 4% for 2024.

The new payment arrives on the same day that the Fund’s director, Kristalina Georgievareceived the Ukrainian president, Volodymyr Zelenskyat the organization’s headquarters in Washington at a meeting where he reaffirmed his commitment to Kiev.

“We discussed the extraordinary resilience of the people of Ukraine despite the enormous cost of the war. The economy is performing strongly,” Georgieva said in a statement.

The head of the Fund also said that “with the much-needed support of the international community, Ukraine managed to implement and maintain a sound economic policy.”

“As the IMF has repeatedly noted, timely and predictable external financing is critical to sustaining hard-won economic gains,” he added.

Zelinski arrived in Washington this Monday after participating in the inauguration of the new Argentine President Javier Milei in Buenos Aires on Sunday.

In the US capital, in addition to the meeting with Georgieva, he also participated in a conference with the head of the Pentagon, Lloyd Austinin which he asked for more help from the United States in opposing the Russian invasion.

This Tuesday, Zelinski should meet with US President Joe Bidenas well as the Speaker of the House of Representatives, Republican Mike Johnson.

The US Congress has been debating for weeks the White House’s proposal to approve more than 60 billion dollars in military aid to Ukraine, but Republicans blocked it.