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ECONOMY

IMF Contemplates $1.3 Billion in Emergency Funding for Ukraine

If approved, the funds would originate from a new emergency lending program to discourse food shortages sanctioned by the board last week.

The International Monetary Fund’s (IMF) executive board will be considering Ukraine’s request for $1.3 billion in supplementary emergency funding on Friday as Russia’s war in contradiction with the country endures, two sources acquainted with the matter said.

IMF staff have equipped the indispensable documents and believe Ukraine has received satisfactory financial guarantees from its global cronies to meet the IMF’s debt sustainability requirements and succeed for further substitute funds; the sources told Reuters.


If approved, the funds would originate from a new emergency lending program to discourse food shortages sanctioned by the board last week. An IMF spokesperson declined to comment on this situation. IMF staff are scheduled to meet with Ukrainian authorities in Vienna on October 17 to discuss Ukraine’s budget plans and monetary strategies, one of the sources said.


The discussions will follow higher-level meetings during next week’s annual World Bank and IMF meetings. IMF officials have acclaimed the Ukrainian Government and its Central Bank for managing the economic shocks instigated by Russia’s Invasion of the country in February. The International Monetary Fund granted $1.4 billion in emergency assistance to Ukraine in March, soon after the war began. Ukrainian officials are demanding additional, non-emergency funds under a full-fledged IMF lending program, but such a program may be coming later.

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