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Ukraine expects to receive about $5.4bn from the IMF next year

Ukraine expects to receive about $5.4bn from the IMF next year International Monetary Fund will provide Ukraine with $5.4bn in 2024 (Photo: Getty Images)

The Cabinet of Ministers of Ukraine expects to receive assistance from international partners amounting to $41.4 billion in 2024. Tranches from the International Monetary Fund (IMF) will make up $5.4 billion, indicated in the 2024 budget draft (No. 10000).

State borrowings will amount to UAH 2.134 trillion, of which external borrowings will be UAH 1.712 trillion, with a projected weighted average interest rate of about 5.5%. Domestic borrowings will constitute UAH 422 billion, with an average interest rate of 19.0%.

The budget fixes the hryvnia's forecasted average annual exchange rate to the dollar at 41.4 UAH/USD. In other words, Ukraine expects to receive $41.4 billion in assistance, including:

EU macro-financial assistance - $9 billion,

IMF credit under the EFF program - $5.4 billion,

International Bank for Reconstruction and Development credit - $2 billion,

help from the US government and other official creditors - $25 billion.

Assistance to Ukraine

The IMF approved a four-year Extended Fund Facility (EFF) program for Ukraine worth $15.6 billion on March 31. The program is part of an international support package for Ukraine totaling $115 billion. Under the program, the Ukrainian government committed to implementing 19 structural benchmarks to continue receiving funding.

Earlier, Finance Minister Serhii Marchenko stated that Ukraine would need over $40 billion in international assistance in 2024, but it is not guaranteed now.