IMF Approves $2.2 Billion Disbursement for Ukraine

The Executive Board of the International Monetary Fund (IMF) has approved a disbursement of $2.2 billion to Ukraine to support its budget after completing the fourth review of a $15.6 billion loan program for the war-torn country. The IMF stated in a release that "Ukraine's performance under the Extended Fund Facility program remains strong despite unfavorable conditions, with quantitative targets being met and structural benchmarks implemented on time or with minor delays." The IMF has revised down its GDP growth forecast for Ukraine for 2024 to a range of 2.5 to 3.5 percent, compared to a previous estimate of 3.2 percent in the April World Economic Outlook report.