IMF reach staff-level agreement to give Ukraine $15.6bn loan
On Tuesday (21 March) the International Monetary Fund (IMF) located in Washington D.C. announced that it had reached a staff-level agreement with Ukraine for a 48-month financing package worth about $15.6 billion. The BBC also reports that it is the first loan that the organisation has granted to a country at war. In a statement, the IMF announced that the Extended Fund Facility (EFF) "aims to support the Ukrainian authorities anchor policies that sustain fiscal, external, price and financial stability, and support the ongoing gradual economic recovery, while promoting long-term growth in the context of post-war reconstruction and Ukraine’s path to EU accession". The agreement must however still be ratified by the IMF's board, and follows months of negotiations between IMF staff and Ukrainian authorities. The executive board of the IMF is expected to discuss approval in the coming weeks.
Wed, 03/22/2023 - 07:18
Russian cruise missiles destroyed in explosion in Crimea
Russian Kalibr cruise missiles have been destroyed in an explosion in the Crimean city of Dzhankoi late on Monday (20 March). According to the Ukrainian Ministry of Defence, they were being transported by rail at the time of the explosion. As has become standard, Ukrainian authorities confirmed the explosions in Dzhankoi, located in the north of the Russian-occupied Crimean peninsula, but they did not claim an attack. "The [explosions] continue the process of Russia's demilitarisation and prepares the Ukrainian peninsula of Crimea for de-occupation," the Ukrainian Defence Ministry said in a statement. Sergei Aksenov, the head of Moscow-installed proxies in Crimea, said that Russian air defense had been working in Dzhankoi, saying that the wreckage injured one person and damaged a household and a shop. Meanwhile Igor Ivin, the head of the occupying administration in Dzhankoi, reported a drone attack. The Kalibr missiles which have reportedly been destroyed in the explosion are designed to be launched from surface ships of the Russian Black Sea Fleet.
Tue, 03/21/2023 - 09:08