The IMF board saw approval of a new โ€œfood shock windowโ€ in the next two weeks

The IMF board saw approval of a new โ€œfood shock windowโ€ in the next two weeks

WASHINGTON (Reuters) – The International Monetary Fund’s managing director said on Thursday the IMF’s board is expected to approve a new “food shock window” in the next two weeks that would allow the global lender to provide emergency financing to Ukraine.

Alfred Kamer told a conference hosted by Bloomberg that Ukrainian authorities deserved “high credit” for managing the economic shocks caused by Russia’s invasion of the country on February 24.

He said an IMF mission would study Ukraine’s budget plans and monetary policy plans in late October, and stressed that the central bank needed to avoid printing money to finance its budget deficit, focusing on tax revenue instead.

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