New York, December 20 (QNA) - Today, the International Monetary Fund announced its approval of a plan to monitor Ukraine's economic program, which would help Kyiv receive money from donors.

In a statement from the fund, it was explained that the plan to monitor the economic program is designed to help Ukraine maintain stability and stimulate donor financing amid large financial needs and major and exceptional risks.

The Ukrainian authorities have a period of four months to prove that progress has been made in terms of the program monitoring plan, with the participation of the fund's board of directors, according to the statement.

Ukraine needs between $40 billion and $57 billion to cover its budget and operational needs for the year 2023.

It was indicated that the large and expected external financial support will be essential to the success of the authorities' strategy, and that the amounts paid in advance would help address pressures in early 2023.

It is noteworthy that the IMF has provided Ukraine with emergency financial aid of $2.7 billion since the beginning of the war on Feb. 24.

(QNA)