WASHINGTON – The International Monetary Fund is exploring a multiyear aid package for Ukraine worth as much as US$16 billion (S$20 billion) to help cover the country’s needs and provide a catalyst for more international funding while Kyiv tries to repel Russian forces, according to people familiar with the matter. Read more at straitstimes.com.
WASHINGTON – The International Monetary Fund is exploring a multiyear aid package for Ukraine worth as much as US$16 billion to help cover the country’s needs and provide a catalyst for more international funding while Kyiv tries to repel Russian forces, according to people familiar with the matter.
The plan would also require changes to IMF lending rules so the fund could lend to the war-torn country, and the government in Kyiv would need to commit to a series of policies, on top of successfully completing a four-month non-cash IMF programne approved last year, according to the people, who asked not to be identified because they’re not authorised to discuss the issues publicly.
There is hope the plan will be agreed on by the end of March, with the first tranche coming as early as in April in the best-case scenario, they said. The IMF “remains closely engaged” with Ukraine, the fund said in a statement in response to questions from Bloomberg News, adding the cooperation “could pave the way towards a fully fledged programme,” without elaborating on details such as the potential size of a loan.
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