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IMF Reaches Preliminary Agreement on $15.6 Billion Aid to Ukraine

After months of negotiations, the International Monetary Fund (IMF) and Ukrainian government officials have reached a preliminary agreement on a four-year financial assistance package worth $15.6 billion. The deal is subject to formal approval by the IMF’s executive board.

This marks the first time in the IMF’s 77-year history that it will lend money to a war-torn country. The agreement is expected to receive approval from the IMF’s global donors and allies.

The IMF has stated that it expects the Ukrainian economy to recover gradually over the next several quarters. While economic activity in various sectors will recover from the effects of the war, critical infrastructure has been severely damaged. There are still some obstacles, and the risk of conflict escalating remains.

Following the agreement, IMF official Gavin Gray commented that he expects Ukraine’s real gross domestic product (GDP) to range between -3% to +1% in 2023.

The aid package from the IMF is expected to provide significant financial support to Ukraine, which has been struggling with a war in its eastern regions since 2014.

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