International Monetary Fund breaks ground with first such support for a country at war
The International Monetary Fund, the global lender of last resort, has agreed a package of support forThe loan, the first the Washington-based lender will make to a country at war, could represent one of the biggest tranches of financial support for Ukraine so far. It still needs to be signed off by the IMF’s executive board, a process that should conclude within weeks.for the country, but it also “continues to have a devastating impact on the economy”.
“The authorities have nevertheless managed to maintain macroeconomic and financial stability, thanks to substantial external support and skilful policymaking,” Gray said. “The overarching goals of the authorities’ programme are to sustain economic and financial stability in circumstances of exceptionally high uncertainty, restore debt sustainability and support Ukraine’s recovery on the path toward EU accession in the postwar period,” he said.
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