IMF Warns Ukraine May Not Recover From Virus Slump Until 2024
- Next year’s rebound from 8.2% contraction seen at just 1.1%
- Lender says reform progress has been repeatedly undermined
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Ukraine’s recovery from its coronavirus-induced slump may take four years, the International Monetary Fund warned, after approving $5 billion of aid for the eastern European nation this week.
“Under the baseline, the pace of economic growth is projected to pick up only gradually in the years ahead, to around 4%, as some further progress is made in implementing structural reforms,” the IMF said Thursday. “Output isn’t expected to reach its pre-crisis levels until 2023–24.”