IMF to Consider $1.3 bln Emergency Fund For Ukraine

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The International Monetary Fund’s (IMF) executive board will consider Ukraine’s request for $1.3 billion in additional emergency funding on Friday as Russia’s war against the country continues, two sources familiar with the matter said.

“IMF staff have prepared the necessary documents and believe Ukraine has received sufficient financial assurances from its global partners to meet the IMF’s debt sustainability requirements and qualify for further emergency funds,” the sources says. Reports said

IMF officials have praised the Ukrainian government and its central bank for their management of the ‘economic shocks’ caused by Russia’s invasion of the country in February.

The IMF provided $1.4 billion in emergency assistance to Ukraine in March, shortly after the war began.

Ukrainian officials are pressing for “additional, non-emergency funds” under a full-fledged IMF lending program, but such a program could come later.

 

 

 

 

Reuters /Shakirat Sadiq

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