<div style="text-align: justify; "><b style="font-size: 1rem;">The International Monetary Fund (IMF) said Tuesday it has reached agreement with Ukrainian authorities on a loan package worth around $15.6 billion, to support the conflict-hit country's economic recovery.</b><br></div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The European country has been locked in a deadly war with Russian troops since they invaded the country in February last year.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">"In addition to the horrific humanitarian toll, Russia's invasion of Ukraine continues to have a devastating impact on the economy," IMF Ukraine mission chief Gavin Gray said, according to the statement.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The four-year plan, which is subject to approval from the IMF board, would support Ukraine's "ongoing gradual economic recovery, while promoting long-term growth in the context of post-war reconstruction," and the country's path to European Union accession, the statement said.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">Ukraine's economic activity contracted by 30 percent last year, while poverty rose and much of the capital stock was destroyed, Gray said.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The IMF predicts Ukraine economy will slowly recover over the coming quarters, "as activity recovers from the severe damage to critical infrastructure," wrought by the war, he added.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">But "acute macroeconomic challenges persist due to the scale of the shock and the expansion of the fiscal deficit," he said.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The board is expected to consider the bailout in the coming weeks, according to the IMF. AFP</div><div style="text-align: justify;"><br></div><div style="text-align: justify; ">bnbd24/kh</div>