IMF Approves $1.1 Billion Aid for Ukraine

The IMF has completed a review of its fund arrangement for Ukraine, facilitating the disbursement of $1.1 billion. This financial support is intended to aid Ukraine's budget, following the Russian invasion in February 2022. The review pertains to the Extended Fund Facility arrangement for Ukraine.

The International Monetary Fund (IMF) announced on Friday the completion of its fifth review under the Extended Fund Facility for Ukraine. This review unlocks $1.1 billion in financial assistance for the country. The aid is specially earmarked for essential budget support amidst ongoing challenges following the Russian invasion last year.

In an official statement, the IMF highlighted that the funds are part of a broader arrangement aimed at stabilizing Ukraine's financial footing. This measure falls under the purview of the extended arrangement, which has seen several reviews to adapt to evolving circumstances within Ukraine.

As Ukraine navigates both economic hurdles and geopolitical tensions, the IMF's continued support underscores the international community's commitment to aiding its economic recovery and maintaining fiscal stability.

(With inputs from agencies.)