The changes to the IMF’s financing assurances policy would apply to countries experiencing “exogenous shocks that are beyond the control of country authorities and the reach of their economic policies,” the IMF said in a statement.is seeking an IMF financing package of around $15 billion
The IMF said the rule revisions would address key barriers to such loans by allowing official bilateral creditors and donors to provide upfront assurances about repayment to the IMF and delivering debt relief to the borrowing country. The Fund said on Wednesday, March 15, that its staff had made “very good progress” in talks with Ukraine over the previous week on policies that could underpin a new IMF lending program for the war-torn country.
Source: Loan Digest (loandigest.net)
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