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IMF considers $1.3 billion emergency funding for Ukraine

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Economy15 minutes ago (Oct 03, 2022 08 22 PM EST)

© Reuters. FILE PHOTO: A participant stands near the IMF logo at the IMF-World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes Christo

via Andrea Shalal

WASHINGTON (Reuters) – As Russia’s war on Ukraine continues Moving on, the Executive Board of the International Monetary Fund (IMF) will consider Ukraine’s request for $1.3 billion in additional emergency funding on Friday, two sources familiar with the matter said. Sources told Reuters further emergency funding.

An IMF spokesman declined to comment.

IMF staff are scheduled to meet with Ukrainian authorities in Vienna the week of Oct. 17 to discuss Ukraine’s budget plan and monetary policy, one of the sources said. Discussions will follow a higher-level meeting next week during the annual meetings of the World Bank and the International Monetary Fund.

IMF officials praised Ukraine’s government and its central bank for managing the economic shock of February’s Russian invasion of the country.

The IMF provided Ukraine with $1.4 billion in emergency aid in March, shortly after the war began.

Ukrainian officials are seeking additional non-emergency funding from a full-fledged IMF loan program, but such a program may come at a later date.

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