IMF set to offer $15.6 billion in credits to Ukraine

The International Monetary Fund  will offer a $15.6 billion credit program to Ukraine, amid Kyiv’s ongoing conflict with Russia. 

The management of the fund must approve a four-year loan repayment period, the IWF on Wednesday reported from Washington.

The aim of the aid program is to maintain economic and financial stability “under conditions of particularly high uncertainty” and increase it during the post-war reconstruction period, the fund said. 

The IMF added along with the humanitarian consequences, Russia’s invasion of Ukraine had had a “devastating impact” on the country’s economy, with domestic production in Ukraine falling by 30 percent last year.