IMF Considers Additional Support of 1.86 Trillion Won to Ukraine

Document Review Completed... International Community Guarantee as Well

(Photo by Reuters)

[Asia Economy Reporter Yujin Cho] The International Monetary Fund (IMF) is considering an emergency fund injection for Ukraine, which has been engaged in a war for over seven months due to the Russian invasion.

According to major foreign media, the IMF Executive Board is set to discuss an additional emergency fund support plan worth $1.3 billion (approximately 1.86 trillion KRW) on the 7th (local time) at Ukraine's request.

According to sources familiar with the matter, IMF staff have already completed the paperwork and believe that Ukraine has received sufficient guarantees from international partners.

If this additional support plan is approved, the funds will be sourced from the emergency loan program approved by the board last month to address food shortages.

Earlier, immediately after the Russian invasion in March, the IMF had already provided Ukraine with $1.4 billion in emergency funds and has been operating fund programs to expand support for Ukraine's reconstruction.

Alfred Kammer, head of the IMF's European Department, said at a conference hosted by Bloomberg News on the 22nd of last month, "The Ukrainian government and central bank deserve recognition for managing the economic shock caused by the Russian invasion."

An IMF spokesperson declined to comment officially on the emergency fund injection.

Meanwhile, IMF staff are scheduled to meet with Ukrainian officials in Vienna, Austria, around the 17th to discuss Ukraine's budget and monetary policy.