Ukraine services its sovereign debt meticulously, says IMF

15 July, 02:21 PM
IMF (Photo:Yuri Gripas / Reuters)

IMF (Photo:Yuri Gripas / Reuters)

While calling for further financial aid to Ukraine, IMF is pleased with how responsibly Kyiv is servicing its sovereign debt, Ukrainian news agency Interfax-Ukraine reported on July 14.

“At the moment, Ukraine is servicing its debt in an orderly way; and we would expect that to continue,” said Gerry Rice, head of communications at IMF.

Rice indicated that IMF is not advocating for any extraordinary measures for Ukraine, such as suspending sovereign payments.

He noted that IMF extended a further $1.4 billion loan to Ukraine at the outset of the war, and continues to support the country with regular SDR (Special Drawing Rights) disbursements.

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Canada, Germany, and the Netherlands have all made use of IMF-curated account, which accumulates funds for financial aid to Kyiv.

Grant financing is currently the priority model for Ukraine relief, Price added.

“That's the best form of assistance that can be provided by the international community, in light of the war situation and the nature of the shock,” the official said.

“And that would allow the Ukrainian Government to remain operational without incurring further debt, which is an important dimension of the question.”

Ukraine’s Finance Minister Serhiy Marchenko earlier said that Ukraine is in talks with the IMF about a new financial aid program.

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