IMF Starts Second Assessment of $17.5 Billion Financing Program for Ukraine

© AFP 2022 / MANDEL NGANThe seal of the International Monetary Fund is seen at the headquarters building in Washington, DC on July 5, 2015
The seal of the International Monetary Fund is seen at the headquarters building in Washington, DC on July 5, 2015 - Sputnik International
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An International Monetary Fund (IMF) mission to Ukraine is starting its second assessment of a financing program for Kiev on Thursday.

KIEV (Sputnik) – The mission plans to finish its assessment by November 21.

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In mid-October, Ukraine's Minister of Finance Natalie Jaresko said the IMF would send a mission to the country two weeks after local elections held on October 25.

Ukraine has been increasingly reliant on external help in order to restore its economy, which was significantly weakened by the 2014 change of power and the subsequent outbreak of hostilities in the country’s southeast.

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The IMF has agreed to allocate $17.5 billion to Ukraine as part of a four-year financing program. It was planned that Kiev would receive about $10 billion in the first twelve months.

Kiev has already received $6.7 billion under the program, which was approved in March.

One of the issues hampering the allocation of the third, $1.7-billion, tranche to Ukraine as part of the IMF’s $17.5-billion loan is the need to approve a state budget with a deficit of no more than 3.7 percent of GDP.

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