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

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

The Worldwide Financial Fund’s (IMF) government board will contemplate Ukraine’s request for $1.3bn in extra emergency funding on Friday as Russia’s battle towards the nation continues, based on two sources aware of the matter.

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

If authorized, the funds would come from a brand new emergency lending program to handle meals shortages authorized 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 underneath a full-fledged IMF lending program, however such a program may come later.

An IMF spokesperson declined to remark.