Wednesday, 19 December 2018 14:06 WIB |
The Executive Board of the International Monetary Fund (IMF) on Tuesday made a final contribution to the loan package for Ukraine and released 1.4 billion dollars immediately.
The IMF agreed to a 4 billion dollar loan for 14 months in mid-October but the council was awaiting countries that met economic requirements before being stripped of the war-torn country including raising gas and heating prices.
Another step is to approve the end of the 2019 budget with a deficit of around 2.3 percent of GDP.
Ukrainian Prime Minister Volodymyr Groysman is seeking funding from a loan based in Washington to help his country hit by a crisis.
The disruption of gas prices is a sensitive issue for countries that question pro-Western matters in the face of presidential elections and the year 2019.
The new 14-month Alert loan agreement is used for the years united in March 2015. The remaining funds will be released after mid-year on the government's performance.
The IMF stressed the need to continue to protect low-income families. But it also covers the main priorities, including continuing to reduce the public and inflation, supporting the banking sector, and improving tax administration and privatization.
Source : VOA