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IMF says working on bilateral donor trust fund for Ukraine -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: At the close of the IMF/World Bank annual conferences in Washington, U.S.A. on October 9, 2016, the International Monetary Fund logo was seen at its headquarters. REUTERS/Yuri Gripas/File Photo

WASHINGTON, (Reuters) – The International Monetary Fund has begun work on a Ukraine trust fund instrument that will allow bilateral donors to provide resources for the country in its war against Russia.

The official stated that the IMF has approved Ukraine a $1.4billion emergency loan. It is currently the largest amount Ukraine can borrow direct from the Fund according to current IMF Rapid Financing Instruction rules.

Bilateral donors will provide any IMF-administered funds for Ukraine that are needed in the immediate future, according to the official. They also stated that IMF’s emergency loan has a “catalytic” effect on encouraging donations.

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