IMF expects Ukraine to continue accurately servicing its debt

19:09, 14.07.2022 2 min read

Ukraine is accurately servicing its public debt, and the International Monetary Fund (IMF) expects that this situation will continue, but they call for supporting the country with grant financing.

"At the moment, Ukraine is servicing its debt in an orderly way. And we would expect that to continue," IMF spokesman Gerry Rice said at a traditional briefing on Thursday.

Asked about the lack of recommendation to Ukraine to request freezing of payments or something like that, Rice noted that he had no other position than the one stated above.

"We've been supporting them with a program loan of $1.4 billion. We've supported them from the SDR, the SDR allocation. We've established the administered account for donors to support Ukraine. Canada, Germany, the Netherlands have all stepped in so far. We are expecting more in the coming days," he said.

"What we see as the priority in terms of financing for Ukraine right now is grant financing. In in the short term that's the best form of assistance that can be provided by the international community in light of the war situation and the nature of the shock. And that would allow the Ukrainian government to remain operational without incurring further debt," he added.