IMF Reaches Preliminary Agreement for $1.1 Billion Aid to Ukraine

The International Monetary Fund announced a preliminary agreement to provide Ukraine with $1.1 billion in financial assistance. This comes after challenging discussions and pending IMF executive board approval. The aid is part of a larger support package to help Ukraine combat the adverse effects of Russia's invasion and maintain economic stability.

The International Monetary Fund announced on Tuesday that it has reached a preliminary agreement to provide Ukraine with $1.1 billion in financial assistance.

The latest agreement follows what Kyiv described as "difficult" discussions and is now awaiting approval from the IMF's executive board. This approval is anticipated to occur within the coming weeks, according to a statement from the IMF.

This funding forms part of the IMF's four-year, $15.6 billion program, which is a significant component of a broader global economic support mechanism to aid Ukraine as it faces its third winter amidst Russia's ongoing full-scale invasion.

(With inputs from agencies.)