Ukraine has received more than €2 billion ($2.2 billion) in financing from the International Monetary Fund (IMF), Prime Minister Denys Shmyhal said on messaging platform Telegram on Wednesday.
The tranche is part of an ongoing loan program of about €15 billion, Shmyhal said. It will be used to finance essential government spending, such as social spending and salaries for state employees, including doctors and teachers, he said.
Since Russia’s large-scale invasion of Ukraine in February 2022, Kiev has received more than €80 billion in aid from foreign partners for its government spending, Ukrainian figures show.
The British magazine The Economist reported on Sunday that the country could go bankrupt in August, with some private lenders expected to demand resumption of debt repayments that were suspended at the start of the conflict.
The Ukrainian government says it cannot repay loans and is seeking to freeze future payments or restructure its debt. Kiev’s international allies have already frozen government loan repayments until at least 2027.
According to The Economist’s calculations, Ukraine’s debt burden is expected to rise to an estimated 94% of gross domestic product (GDP) by the end of the year. In the eurozone, any figure above 60% is considered unstable.
