July 20 (Reuters) – The International Monetary Fund’s board completed a review of Ukraine’s financing arrangement, clearing the way for \u200cimmediate access to about $690 million, the Fund said on \u200cMonday. <\/p>\n
The war-torn nation is operating under an $8.1 billion IMF loan programme. The latest \u200bfunding brings total disbursements under the programme to about $2.2 billion, the IMF said in a statement. <\/p>\n
The review is a key test for Ukraine as it struggles to sustain economic stability and advance reforms \u200cwhile battling intensified Russian \u2060attacks on its infrastructure. <\/p>\n
The IMF said Ukraine had maintained macroeconomic and financial stability despite Russia’s war. However, \u2060it said the economic outlook had weakened largely due to intensified attacks on critical infrastructure and spillover effects from the war in \u200bthe Middle \u200bEast. <\/p>\n
The IMF said programme performance \u200bhad been “broadly satisfactory.” All end-March \u200cquantitative performance criteria and indicative targets were met, although the end-June target on net international reserves was missed, in part because of the impact of the Middle East conflict. <\/p>\n
“Reform implementation has slowed, with several structural benchmarks completed with a delay or missed,” the \u200cIMF said. <\/p>\n
To keep the programme on \u200btrack, IMF staff and Ukrainian authorities \u200bagreed in June to \u200ba revised timeline for implementing reforms, corrective actions to \u200caddress slippages and additional policy \u200bcommitments, the IMF \u200bsaid in June. <\/p>\n
IMF Managing Director Kristalina Georgieva said on Monday that maintaining macroeconomic stability remained Ukraine’s immediate priority and called \u200bfor prudent fiscal \u200cand monetary policies as well as measures to safeguard \u200bfinancial-sector resilience. <\/p>\n
(Reporting by Mrinmay Dey in Mexico City; Editing by \u200bChristian Schmollinger and Michael Perry) <\/p>\n","protected":false},"excerpt":{"rendered":"July 20 (Reuters) – The International Monetary Fund’s board completed a review of Ukraine’s financing arrangement, clearing the…\n","protected":false},"author":2,"featured_media":19092,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[7415,7414,26],"class_list":["post-19091","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","tag-economic-stability","tag-international-monetary-fund","tag-ukraine"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ukraine\/wp-json\/wp\/v2\/posts\/19091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ukraine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ukraine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ukraine\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ukraine\/wp-json\/wp\/v2\/comments?post=19091"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ukraine\/wp-json\/wp\/v2\/posts\/19091\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ukraine\/wp-json\/wp\/v2\/media\/19092"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ukraine\/wp-json\/wp\/v2\/media?parent=19091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ukraine\/wp-json\/wp\/v2\/categories?post=19091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ukraine\/wp-json\/wp\/v2\/tags?post=19091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}