IMF approves $15.6 billion loan for Ukraine amidst ongoing conflict with Russia.

The International Monetary Fund has approved a $15.6bn loan program for Ukraine as part of a $115bn package to support its war-torn economy. The loan program will span four years, with the first phase focused on helping Ukraine close its massive budget deficit and steady disinflation. Ukraine will immediately receive $2.7bn as part of the program, requiring it to focus on financial stability and undertake ambitious structural reforms, particularly in the energy sector. The loan program is designed to support Ukraine’s struggles with meeting its payments arising from the “large exogenous shock of the war,” the IMF said.