The country’s debt management chief says a less rigid approach is required to help shore up war-ravaged finances
International Monetary Fund MD Kristalina Georgieva. Picture: REUTERS/JASON LEE
The IMF looks ready to boost it by allowing countries struggling with global food price increases — a group that includes Ukraine — to draw more money from its main rapid-financing facility. “I’m not sure whether standard tools of the IMF are really designed for this type of situation,” he added. “They probably need to introduce a bit of creative thinking,” noting the last time Europe saw a war of this magnitude the IMF was not set up.
It has received just more than $17bn in Western aid and loans. About $10bn more is due from the EU, US and countries such as Britain.
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