Ukraine expects final IMF deal approval in coming weeks

Feb 14: Ukraine expects its new $8.2 billion programme with the International Monetary Fund to be formally approved in weeks, its debt chief has told Reuters, a telegraphed but symbolic step, with the war with Russia about to grind into a fifth year.

The agreement, which is set to replace an existing $15.6 billion IMF facility, will help Kyiv maintain economic stability and public spending against what is expected to be a near $140 billion budget shortfall over the next few years.

In an interview with Reuters, Ukraine's long-serving debt management head, Yuriy Butsa, said formal IMF Board sign-off on the money should come very soon.

"I would expect it in a matter of weeks," Butsa said during an interview in London where he was attending meetings. "I think February is still doable in terms of a timeline."

The IMF declined to comment on the potential timing of a formal approval.

The four-year anniversary of the war is Feb 24. Since Moscow's invasion, Ukraine has required hundreds of billions of dollars of support from Western governments and institutions and a more than $20 billion sovereign debt restructuring.

"As of now we are waiting for the new IMF programme, but we already agreed on all the numbers for this and next year and will cover it (budget deficit) from existing commitments," Butsa said, also praising the EU's new 90 billion euro loan.

He said he wasn't getting carried away by talk of a potential US-brokered ceasefire ahead of this month's anniversary.

Ukrainian President Volodymyr Zelensky said on Wednesday the US needed to put more pressure on Russia if it wanted the war to end by summer, adding it was unclear whether Moscow would attend US-brokered peace talks next week.    �"Reuters