The International Monetary Fund is confident Ukraine can meet the requirements attached to a potential loan program even amid rising political tensions on its eastern border, a fund spokesman said.
“One of the fund’s fundamental roles is to work in these difficult situations, and that’s why we are committed and engaged in Ukraine,” IMF spokesman Gerry Rice told reporters today in Washington. “The fund only approves the use of its resources if it is satisfied that the member has the capacity to implement the program and is committed to do so. In this case we believe that it is the case.”
Rice said the IMF board is tentatively expected to meet April 30 to review the IMF loan package, which according to government officials is proposed to be $17 billion. Approval could unlock an additional $15 billion from other donors, Rice said, though he declined to revise a previous estimate of $27 billion for a global package for Ukraine.
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