IMF reaches loan agreement of $5.5 billion with Ukraine

The International Monetary Fund (IMF) on Saturday announced that it has reached an agreement with Ukraine on a three-year loan of worth USD 5.5 billion.

The announcement comes as Managing Director of the International Monetary Fund (IMF) held talks regarding a new loan program with Ukrainian President Volodymyr Zelenskyy, Sputnik reported.

"I was pleased to note that IMF staff has reached an agreement with the authorities on the policies to underpin a new 3-year, SDR 4 billion (about US$ 5.5 billion) arrangement under the Extended Fund Facility," Georgieva said on late Saturday, as quoted by the IMF press service.

"The President and I agreed that Ukraine's economic success depends crucially on strengthening the rule of law, enhancing the integrity of the judiciary, and reducing the role of vested interests in the economy, and that it is paramount to safeguard the gains made in cleaning up the banking system and recover the large costs to the taxpayers from bank resolutions," she added.