690 million dollars to Ukraine. global Monetary Fund approved the amount

Economic and financial stableness maintained

According to the IMF Council, Ukraine maintained economical and financial stableness despite the ongoing war. At the same time, the Fund assessed that the economical prospects of the country had deteriorated due to the expanding attacks on key infrastructure and the consequences of the conflict in the mediate East. The pace of reforms has weakened and any of the structural objectives have been implemented late or have not been achieved within the set time limit.

Nevertheless, the IMF considered that the conditions essential for the payment of the next tranche of support were mostly satisfactory, indicating that Ukraine had achieved all the quantitative and indicative criteria required by the end of March.

Social objection

Monday's IMF Council Decision followed last month's agreement with the authorities Ukraine on the revision of the improvement agenda, the corrective actions related to delays and additional commitments.

According to Bloomberg, the Fund agreed to postpone the deadline for introducing provisions providing for 20% VAT and additional charges for abroad shipments worth more than 45 euro. The task met with social opposition and was not adopted by the Ukrainian Parliament. The planned VAT taxation of any self-employed entrepreneurs was besides postponed.

The prolonged war importantly increased Ukraine's budget deficit, forcing the authorities to search additional revenue. The gap is mostly covered by the support of abroad partners, including the IMF.

IMF head Kristalin Georgieva estimated that Ukraine's key task in the close future would be to keep macroeconomic stability. She besides called for careful management of fiscal and monetary policies and actions to strengthen the resilience of the financial system.