The International Monetary Fund (IMF) office in Kiev said the financial organization has no legal prohibitions that might hinder its cooperation with any country under martial law, including Ukraine.
KIEV (Pakistan Point News / Sputnik - 26th November, 2018) The International Monetary Fund (IMF) office in Kiev said the financial organization has no legal prohibitions that might hinder its cooperation with any country under martial law, including Ukraine.
The Ukrainian National Security and Defense Council (NSDC) earlier on Monday decided to impose martial law on the territory of Ukraine for a period of 60 days amid accusations by Russia that Ukrainian ships ignored warnings to dangerous maneuvers in the Kerch strait. The chief of the Ukrainian General Staff has ordered to put the country's armed forces on full combat alert.
"The IMF has no formal legal restrictions that would hinder further cooperation amid martial law. The IMF has already had experience in cooperating with a number of countries having ongoing armed conflicts," the IMF Resident Representative office in Kiev said, as quoted by the Ukrainian news agency.
Kiev has been receiving loans as part of the IMF's $17.5 billion Extended Fund Facility (EFF) assistance package. The loans, which are part of a four-year program aimed at reviving the Ukrainian economy, were approved by the IMF back in 2015 and are conditioned on Kiev implementing reforms aimed at improving the economy and the rule of law in the country.
The IMF announced in October that it had agreed with Ukraine on a $3.9 billion stand-by agreement (SBA) for 2019.
