Lithuania to join IMF program for Ukraine

Lithuania will take part in the IMF's $15.6 billion financing program for Ukraine.

That's according to the Lithuanian broadcaster LRT, which refers to a press release published on the website of the country's finance ministry, Ukrinform reports.

On Wednesday, March 29, the Lithuanian government approved the country's accession to the political statement of the group of countries, which provides the International Monetary Fund (IMF) with financial assurances regarding Ukraine's fulfillment of its obligations to the IMF in the future.

Read also: Group of Creditors of Ukraine provides assurances to support IMF steps to help Ukraine

"Lithuania consistently supports Ukraine in various international formats, including financial initiatives. Financial assurances, which will allow the approval of a significant IMF program for Ukraine in the near future, are another expression of the strong support of Western partners, including Lithuania," said Minister of Finance Gintare Skaiste.

A political statement confirming the countries' readiness to continue supporting Ukraine and ensuring the country's capacity to fulfill its obligations to the IMF is provided by the G7 countries, Spain, whereas several other EU countries, such as Austria, Belgium, Poland and the Netherlands, are also considering this issue.

The IMF program will complement other EU and Western partners' financial support measures for Ukraine. The program is focused on strengthening macroeconomic and financial stability in Ukraine and implementing long-term structural reforms.

The IMF's executive board is expected to approve the 48-month program on Friday, March 31.

Since the beginning of 2023, Ukraine has received almost $5 billion from the European Union and more than $2 billion from the United States.