Ukraine secures $15.6 billion loan from IMF.
Ukraine and the International Monetary Fund have agreed on a $15.6 billion loan package aimed at shoring up government finances severely strained by Russia’s invasion and leveraging even more support by reassuring allies that Ukraine is pursuing strong economic policies and fighting corruption. The loan program will run for four years, with the first 12 to 18 months focusing on helping Ukraine close its massive budget deficit and easing the pressure to print money to use for spending. The remainder of the program will focus on supporting Ukraine’s bid for European Union membership and post-war reconstruction.