The global lender said Ukrainian authorities had canceled an existing stand-by lending arrangement with the IMF, but would work with the fund to design an appropriate economic programme focused on rehabilitation and growth when conditions permit.The global lender said Ukrainian authorities had canceled an existing stand-by lending arrangement with the IMF, but would work with the fund to design an appropriate economic programme focused on rehabilitation and growth when conditions permit.
The global lender said Ukrainian authorities had canceled an existing stand-by lending arrangement with the IMF, but would work with the fund to design an appropriate economic programme focused on rehabilitation and growth when conditions permit. The IMF said the conflict had already resulted in very serious consequences, citing the flight of over 2 million people from the country in 13 days and large-scale destruction of key infrastructure.The disbursement under the IMF’s Rapid Financing Instrument , equivalent to 50% of Ukraine’s quota in the IMF, will help fund urgent spending needs in the short term, while helping to catalyze financing from other partners, the IMF said.
Members can tap the RFI repeatedly within any three-year period if the balance of payments need is caused by an exogenous shock, according to the IMF website.