The International Monetary Fund says that despite the war Ukraine's economy is performing better than it expected leading it to approve a financial loan package.
In view of the better-than-expected performance of Ukraine's economy, the IMF announced on Tuesday that it has signed off on an initial loan of $900 (€841m) million to the country.
The organisation also said it has raised its estimates of future growth for Ukraine.
“We have, as part of this review, upgraded our projection for GDP growth in 2023 to a range of plus one to plus three per cent," explained IMF Ukraine Mission Chief, Gavin Gray, "inflation is decelerating and the exchange rate has been stable in recent months. At the same time, the outlook remains subject to exceptionally high risks as the war continues.
“Today`s agreement is based on the performance by the Ukrainian authorities. Since the approval of the program in March, and also their commitments to take future economic policy actions. The understandings that we have reached would pave the way for the IMF`s executive board consideration, which would enable a disbursement of about $900 million (€841m).”