Wednesday, October 5, 2022
HomeEconomyIMF board backs 'food shock window' to help Ukraine and others

IMF board backs 'food shock window' to help Ukraine and others

by Andrea Shalal

WASHINGTON (Reuters) – The International Monetary Fund’s board is expected to approve a new “food shock window” in the coming weeks that would allow the The head of the European arm of the global bank providing the fund said on Thursday that emergency funding was provided to Ukraine. The shock of the Russian invasion of the country in February 24.

He said an IMF mission would review Ukraine’s budget plan and budget in late October. Fiscal and monetary policy mix and emphasise the need for central banks to avoid printing money to finance their budget deficits and instead focus on taxation.

The fund was launched in March, at the start of the war, and with great success in cooperation with the authorities, using “orthodox and unorthodox” measures to stabilize the Zebra macroeconomy.

Ukraine could receive another $1.3 billion in emergency aid when the IMF board approves expanded access to its Rapid Financial Instruments (RFI) for war-torn countries, Kammer said.

Kammer said the vote was expected to take place in the next few weeks, and a source familiar with the matter said it was likely to take place in September 30.

“We are discussing a macro-stabilization framework with Ukraine… This will help Ukraine in terms of internal coordination of policies, it will help identify external financing needs, and will help donors in a timely manner way,” he said.

“Our ultimate goal is — this will lead to a full-fledged IMF program,” he added, noting that the situation is that given the ongoing war, the program can only be Monthly “by month”.

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