Ukraine to require at least $39.5-billion external financing in 2023: IMF


will require at least $39.5 billion in external financing in 2023 to keep its afloat, a media report said, citing a recent Monetary Fund (IMF) projection.

“Staff analysis suggests that external fiscal financing needs would be at least 39.5 billion dollars in a central scenario,” the was quoted by Interfax- news agency as saying, Xinhua news agency reported.

Under a pessimistic scenario, which envisages that Ukraine’s gross domestic product will decline by 12.5 per cent, the country’s foreign financing needs will be around 57 billion dollars, the said.

According to Ukrainian Finance Minister Serhiy Marchenko, external financing of Ukraine’s state budget is set to reach 30 billion dollars this year.

The Ukrainian economy, which was severely hit by the Russia- conflict, is expected to shrink by between 32-35 per cent this year after a 3.4 per cent growth in 2021.



(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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