The IMF provides Ukraine with $40 billion

A new IMF program will be adopted for 4 years.

The overall package of financial assistance to be provided to Ukraine in the next 4 years will be about $40 billion, including $17.5 billion on a new program of provision of credit of the economy from the International Monetary Fund.

Bloomberg agency reported with reference to Christine Lagarde, the Managing Director of the Fund, UNIAN reports.

According to the agency, the new IMF program is adopted for 4 years.

Later, the IMF's External Relations Department issued Lagarde’s statement that notes the Mission has reached an agreement with the Ukrainian Government on a new economic programme with a credit volume of $17.5 billion, as well as on the access to other sources of financing. "With all sources taken together, the total financial assistance makes up about $40 billion for a four-year period", Lagarde said.

She noted that a new program with the IMF would lead to economic stabilization in Ukraine and support the mid-term growth. "It's an ambitious, tough program with some risks. However, it's quite possible and it may become a turning point for Ukraine", the Managing Director of the Fund stressed.