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– Vandit P
The IMF’s Executive Board completed the latest review of Ukraine’s $8.1bn financing arrangement. This will unlock ~$690mn in fresh disbursement and bring total programme disbursements to around $2.2bn. The review arrives as Ukraine faces mounting economic pressure from intensified Russian attacks on critical infrastructure and the ongoing costs of the war. The IMF said Ukraine has maintained macroeconomic and financial stability through the conflict, though it flagged a weakening economic outlook due to renewed infrastructure strikes and spillover effects from the conflict in West Asia. The IMF noted that structural reform implementation has slowed, with several benchmarks completed late or missed entirely. To address this, IMF staff and Ukrainian authorities agreed in June on a revised reform timetable, incorporating corrective measures to keep the programme on track. The IMF’s Kristalina Georgieva called for prudent fiscal and monetary policies and continued efforts to safeguard financial sector resilience.
Ukraine’s dollar bonds traded positively. Its 4.5% 2034s were up 0.4 points to 72.5, yielding 11.5%
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