IMF to consider emergency funding for Ukraine

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

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 told the Reuters news agency.

Sources say Ukraine has received sufficient financial assurances from partners to meet IMF’s debt sustainability rules.

If approved, the funds would come from a new emergency lending program to address food shortages approved by the board last week.
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 $1.4bn 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.

(Agencies)