The International Monetary Fund's Executive board on Tuesday approved Ukraine's request for a so-called Program Monitoring with Board Involvement (PMB) to help it cover "very large" debt and safeguard domestic market stability. "The Executive Board of the International Monetary Fund discussed today a Management-approved PMB for Ukraine. This 4-month PMB is designed to help Ukraine maintain stability and catalyze donor financing," the IMF said in a statement.

The statement also said that the measures included "enhancing revenue mobilization and reviving the domestic debt market," as well as "preparing a financial sector strategy, and enhancing transparency and governance." On Monday, the European Commission announced that it would issue up to $84.8 billion of long-term EU-bonds in the first half of 2023 under the bloc's unified funding approach to support Ukraine's economic recovery.

Credit : Independent News Pakistan-INP