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Unprecedented $650 billion for recovery: how much Ukraine will get from the IMF

The International Monetary Fund (IMF) has approved the allocation of $650 billion to revitalize the world economy from its reserves. The statement of the Head of the organization, Kristalina Georgieva, indicates that about half of this amount—$275 billion—will go to the development of countries with emerging economies.

She called the allocation of this amount "a shot in the arm for the global economy at a time of unprecedented crisis." The distribution of funds between countries will take place in accordance with quotas. The decision on the money allocation will come into force on 23 August. According to the quotas, Ukraine will get $2.7 billion from the IMF.

Context. In April, the IMF predicted that in 2021 GDP growth in Ukraine will be 4%, slowing down to 3.4% in 2022 after decreasing by 4% last year. At the same time, the Fund predicts that the growth of the global economy in 2021 will be 6% (in the January forecast, the IMF evaluated growth at 5.5%, and in October last year—at 5.2%).

In its latest July report, the IMF noted a faster but uneven recovery in the global economy and reaffirmed its preliminary forecast for global economic growth.

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