The Executive Board of the International Monetary Fund (IMF) plans to consider a new financing program (Extended Fund Facility, EFF) for Ukraine worth $17.5 billion in late February – early March, Director of IMF Communications Department Gerry Rice has said.
“The IMF announced a staff level agreement last week with the Ukrainian government for a four-year program for about $17.5 billion from the IMF and that was last week, last Thursday, the Board has planned for the end of this month – the end of February or early March. When we announced this staff-level agreement, which of cause is subject to the approval of our Board, we did refer to a total financing package of about 40 billion,” he said at a press conference in Washington on Feb. 19.
The IMF anticipates this money to come from various sources, Rice said.
“It’s going to be $40 billion, it’s what we have assessed as the needed financing package. And we anticipate that it will come together coming from these various sources. I don’t have a specific breakdown of which numbers from which sources, but that is certainly something that will be discussed by the board,” he said.
