IMF Approves $1.3 Billion in Emergency ‘Food Shock’ Funding for Ukraine

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IMF Approves $1.3 Billion in Emergency 'Food Shock' Funding for Ukraine

The International Monetary Fund (IMF) has approved Ukraine’s request for $1.3 billion in emergency funding to help the war-torn country meet its urgent balance of payments needs and preserve financial stability.
The IMF’s executive board on Oct. 7 approved the funds under a new “food shock window” of its Rapid Financing Instrument (RFI).
The move seeks to address the growing risk of Ukraine’s debt becoming unsustainable as the country’s economy is decimated by war.
The IMF said Russia's war against Ukraine has caused “tremendous human suffering and economic pain” and predicted a 35 percent contraction in Ukraine’s gross domestic product (GDP) in 2022....

Source: IMF Approves $1.3 Billion in Emergency 'Food Shock' Funding for Ukraine

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