IMF to consider $1.3 billion in emergency funding for Ukraine on Friday
Reuters
Published Oct 03, 2022 07:14PM ET
Updated Oct 03, 2022 08:22PM ET
By Andrea Shalal
WASHINGTON (Reuters) -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 told Reuters.
If approved, the funds would come from a new emergency lending program to address food shortages approved by the board last week.
An IMF spokesperson declined to comment.
IMF staff are slated to meet with Ukrainian authorities in Vienna the week of Oct. 17 for discussions about Ukraine's budget plans and monetary policies, one of the sources said. The discussions will follow higher-level meetings to take place during next week's annual meetings of the World Bank and IMF.
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.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.