IMF says it is committed to working with Ukraine to shape new support programme

The International Monetary Fund is committed to working with Ukrainian authorities to shape a new lending programme after the war-torn country filed a formal request earlier this week, IMF spokesperson Julie Kozack said on Thursday. Ukraine is spending about 60 percent of its total budget to fund its battle against Russia's invasion and relies heavily on financial support from its Western allies to cover the cost of pensions, public sector wages and humanitarian spending. Following Kyiv's request for a new program as a successor to the existing $15.6 billion support program, IMF staff will now engage with the Ukrainian authorities on macroeconomic policies needed to maintain stability, finance critical expenditures and restore debt sustainability, Kozack told a regular briefing. Ukraine...