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Ukraine Receives $1.1 Billion From International Monetary Fund

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Ukraine Receives $1.1 Billion From International Monetary Fund
The International Monetary Fund (IMF) logo is seen in Washington DC, United States on April 19, 2024. (Source: Getty Images)

Around $1.1 billion was received by Ukraine from the International Monetary Fund  (IMF), which will be directed to cover important budget expenditures of a non-military nature.

This was reported by Ukraine’s PM Denys Shmyhal.

“We received this tranche thanks to the successful fifth review of the EFF (Extended Fund Facility) program in the amount of $15.6 billion,” Shmyhal wrote.

The Minister of Finance of Ukraine Serhii Marchenko, in turn, reported that since the beginning of Russia’s full-scale invasion, Ukraine has received more than $11.3 billion from the IMF.

The EFF funds are intended to help Ukraine's stability during wartime and foster economic growth.

On October 23, Ukraine’s Ministry of Defense reported that Lithuania will be investing €10 million in the production of the "Palianytsia" rocket drone, following the "Danish model " of direct funding for a Ukrainian manufacturer.

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IMF, a global organization that aims to foster sustainable growth and prosperity worldwide by endorsing economic policies that enhance financial stability and encourage monetary cooperation.