Volodymyr Zelensky, Ukraine's president, displayed on a monitor while speaking virtually during a roundtable discussion for support to Ukraine at the spring meetings of the International Monetary Fund (IMF) and World Bank Group in Washington, DC, US, on 12 April 2023. The G7 has vowed to remain firm on support for the war-torn country. Total disbursements under the IMF-supported program for Ukraine will reach $10.6 billion with the new $500 million which will be channeled for budget support, the fund said.
IMF said that it maintains Ukraine's 2025 growth forecast at 2%-3%, as a smaller electricity deficit is balanced by lower gas production and weaker agricultural exports.
"Russia's war continues to take a devastating social and economic toll on Ukraine. Nevertheless, macroeconomic stability has been preserved through skillful policymaking as well as substantial external support" the first deputy managing director of the fund Gita Gopinath said.
"The economy has remained resilient, but the war is weighing on the outlook, with growth tempered by labor market strains and damage to energy infrastructure," Gopinath added.
Ukrainian authorities are continuing work to complete their debt restructuring strategy, which is essential to create room for priority expenditures, reduce fiscal risks, and restore debt sustainability, the IMF said.
(Reporting by Gursimran Kaur in Bengaluru;; Editing by Chizu Nomiyama )