IMF, Ukraine reach agreement on $400 mn loan programme review

AFP | Washington

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The International Monetary Fund and Ukraine reached an agreement Friday on a loan program review that will unlock around $400 million in much-needed funds more than three years after Russia's invasion.

The deal was announced during Ukrainian President Volodymyr Zelensky's trip to meet Donald Trump in Washington, which was marred by an extraordinary shouting match between the two leaders in the Oval Office that left efforts to end the war with Russia hanging in the balance.

The IMF said its staff had recently completed a nineday visit to Ukraine, and were happy with the reforms the country had made under a four-year loan program struck last year worth around $15.5 billion.

The program "continues to provide a strong anchor for the authorities' economic program in times of exceptionally high uncertainty," IMF Ukraine mission chief Gavin Gray said in a statement.