IMF Mulling Fresh $16 Billion Ukraine Aid Package
If only they’d pump money like this into countries where people are dying of hunger to save some lives…
How come some humanitarian crisis are more important that others? I guess by now we all know why…
The International Monetary Fund is now reportedly talking about a fresh multiyear package to help cover Ukraine’s budget and for war recovery totaling as much as a whopping $16 billion.
Citing officials privy to IMF deliberations, Bloomberg details that “If approved, the three- to four-year program — worth $14 billion to $16 billion total — will assume a disbursement of $5 billion to $7 billion in the first year.
The plan could be finalized by the end of March, with a first tranche payment released as early as April.
However, the IMF has pointed to a number of conditions which must be met, such as G7 endorsement for the package, and other donors coming forward to vouch for sustaining the country’s immense and growing debt.
An official IMF statement only indicated it “remains closely engaged” with Ukraine and said cooperation “could pave the way toward a fully fledged program” – but the fund didn’t confirm to Bloomberg the potential size of the loan.
Billions upon billions in international aid has already flooding into Ukraine, some of it for civilian relief and some of it for weapons. The US alone in Ukraine reached nearly $50 billion in 2022 in specifically military aid, with other types of aid going beyond that.
Ironically news of the potential impending IMF mega-package for Ukraine comes the same week the war-ravaged country is back in the news related to a major corruption scandal, resulting in forced resignations and firings of some dozen high-ranking officials.
Kiev of course is attempting to show the world it’s finally getting serious about anti-corruption initiatives in order to keep billions from the West flowing in.