IMF to consider $1.3bn in emergency funding for Ukraine | Russia-Ukraine war

Sources say Ukraine has obtained ample monetary assurances from companions to satisfy IMF’s debt sustainability guidelines.

The Worldwide Financial Fund’s (IMF) govt board will take into account Ukraine’s request for $1.3bn in extra emergency funding on Friday as Russia’s battle in opposition to the nation continues, based on two sources accustomed to the matter.

IMF workers have ready the mandatory paperwork and imagine Ukraine has obtained ample monetary assurances from its international companions to satisfy the IMF’s debt sustainability necessities and qualify for additional emergency funds, the sources advised the Reuters information company.

If permitted, the funds would come from a brand new emergency lending program to handle meals shortages permitted by the board final week.

IMF officers have praised the Ukrainian authorities and its central financial institution for his or her administration of the financial shocks brought on by Russia’s invasion of the nation in February.

The IMF offered $1.4bn in emergency help to Ukraine in March, shortly after the battle started.

Ukrainian officers are urgent for extra, non-emergency funds below a full-fledged IMF lending program, however such a program might come later.

An IMF spokesperson declined to remark.

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