The initiative is designed to help Ukraine and other countries affected by the economic consequences of the war unleashed by the Russian Federation.
The International Monetary Fund is preparing an emergency financing program for countries facing rising food prices due to the war in Ukraine. The fund’s executive board plans to discuss these measures on Monday, September 12, Reuters reports, citing sources.
It was noted that the plan, which has not yet been announced, will be presented at an informal meeting.
It is designed to help Ukraine and other countries affected by the economic consequences of the war unleashed by the Russian Federation. At the same time, the project does not provide for the imposition of conditions that must be met, as in regular funding programs. The scale and specific activities remain unknown.
According to the interlocutors of the agency, the official vote in support of this program, which the fund has been preparing in recent months, is expected in October. If approved, the program will increase current access limits and allow all member countries to lend up to 50% of their IMF quota under rapid financing and lending facilities serving low-income countries. the income.
“The concept is simple, but can help many countries,” said one of the agency’s interlocutors.
Ukraine’s quota to the IMF is about $2.8 billion.
Earlier it was reported that in August consumer price growth in Ukraine accelerated to 1.1% from 0.7% in July.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.