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Ukraine's central bank governor, Andriy Pyshnyi, expressed optimism that the country will avoid monetizing debt markets in 2025, thanks to domestic fundraising and international support. The IMF's recent approval of a $15.6 billion loan program and a $1.1 billion payout bolsters this outlook. As Ukraine prepares its 2025 budget, over a quarter of GDP is allocated for defense amid ongoing conflict with Russia.

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