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Reuters

Business

By Karin Strohecker and Jorgelina do Rosario

Ukraine aims for $15-20 billion IMF loan by year-end -central bank governor

Kyrylo Shevchenko Ukraine International Monetary Fund Naftogaz Economy Kyiv

FILE PHOTO: Kyrylo Shevchenko, Ukraine's Central Bank Governor, speaks during an interview with Reuters in Kyiv, Ukraine February 1, 2021. REUTERS/Valentyn Ogirenko

Ukraine aims to strike a deal for a $15-$20 billion programme with the International Monetary Fund before year-end to help shore up its war-torn economy, the country's central bank governor Kyrylo Shevchenko told Reuters.

Battered by Russia's invasion launched on Feb. 24, Ukraine faces a 35%-45% economic contraction in 2022 and a monthly fiscal shortfall of $5 billion and is heavily reliant on foreign financing from its Western partners.

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