Ukrainian Prime Minister Yulia Svyrydenko emphasized during a conversation with media representatives that the new cooperation program with the International Monetary Fund is not directly linked to the European Union’s decision regarding the provision of a reparations loan to Ukraine, secured by frozen assets of the Russian Federation. She noted that the IMF mission is expected to arrive in Ukraine as early as November, and the approval of the new funding program amounting to 8 billion dollars is anticipated in January.
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Expectations Regarding IMF Funding and the Reparations Loan
Svyrydenko highlighted that the decision on the reparations loan from the EU, which plans to raise around 140 billion euros, will not be made before April. At the same time, she stated that work on the IMF program continues regardless of this process.
“The upcoming funding program from the International Monetary Fund will not be directly dependent on the European Union’s decision regarding the provision of a reparations loan to Ukraine, secured by frozen Russian assets.”
European Concerns and Ukraine’s Position
Earlier, Politico reported that there are concerns within the European Union about whether the IMF will approve a new program for Ukraine without prior approval of the 140 billion euro reparations loan. The European Commission believes that providing Kyiv with a loan guaranteed by Russian assets will serve as compelling evidence of Ukraine’s financial viability in the medium term, which is an important condition for obtaining new loans.
Svyrydenko also expressed confidence that the EU will ultimately make a decision to allocate the reparations loan for Ukraine. She clarified that these funds are intended to be directed towards financing defense needs and covering part of the state expenditures. Additionally, G7 countries may participate in the implementation of the loan mechanism.