IMF may allocate $16 billion in aid to Ukraine, says Bloomberg
IMF is considering creating a financial assistance package for Ukraine (Photo:Yuri Gripas / Reuters)
The International Monetary Fund (IMF) is considering creating a financial assistance package for Ukraine to the tune of $16 billion, to be doled out over several years, the Bloomberg news agency reported on Jan. 26, referring to its own sources familiar with the matter.
The package would last for three or four years, and $5 or even $7 billion would be allocated in its first year, the publication wrote. If the pack-age is approved by the end of March, Ukraine will receive the first tranche at best in April, Bloomberg added.
However, the package’s creation depends on a number of factors, including approval by the G7 country leaders, as well as by other donors and lenders of Ukraine.
"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 program approved last year,” Bloomberg wrote.
The Ministry of Finance of Ukraine has refused to comment on the matter, but did express hope for the successful implementation of a "fully-fledged" program with the IMF, in a statement on the ministry’s website on Jan. 26.
At the end of December, the Ministry of Finance published an updated memorandum of economic and financial policies containing structural measures to be taken to come into compliance with IMF requirements.
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