WASHINGTON (Reuters) – International Monetary Fund (IMF) Chief Kristalina Georgieva is set to meet Ukrainian President Volodymyr Zelenskiy in Washington on Monday, according to an IMF spokesperson. The meeting coincides with the IMF executive board’s planned release of additional funds from Ukraine’s $15.6 billion loan program.
While the spokesperson did not provide specific timing for the meeting, it is expected to cover the progress review of Ukraine’s four-year Extended Fund Facility loan, approved earlier this year. Last month, the IMF announced a staff-level agreement with Ukraine on updated economic and financial policies, paving the way for a $900 million disbursement once approved by the board.
Despite Russia’s invasion in February 2022, the IMF noted Ukraine’s “remarkable resilience,” with the country demonstrating a stronger-than-expected economic recovery in 2023 and continued growth projected for 2024.
During his visit to Washington, President Zelenskiy is scheduled to meet with U.S. President Joe Biden and key congressional officials. The meetings aim to secure continued U.S. security assistance to support Kyiv in its ongoing fight against Russia’s invasion.
Since the war’s onset, Ukraine has received over $68.5 billion in budgetary support, according to finance ministry data. With a projected budget deficit of approximately $43 billion in 2024, the Ukrainian government plans to cover it through domestic borrowing and financial aid from Western partners. However, concerns are rising about the certainty of financing, with some analysts suggesting a potential decrease in Western aid starting next year.
