Economics
IMF Plans Food-Shock Help as It Weighs Revamp of Global Role
- Fund to go to its board with menu of options on assistance
- Up to 30 nations would immediately benefit from food plan
Kristalina Georgieva, managing director of the International Monetary Fund.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
The International Monetary Fund is looking at ways to help countries affected by the global food shock caused by Russia’s invasion of Ukraine, as part of a larger rethink of how the lender of last resort can best help its member nations.
The IMF has proposed to its board that the institution increase access to emergency financing for a year to low-income countries that are most vulnerable to the changes in the cost of food, which “has skyrocketed,” Managing Director Kristalina Georgieva said in a virtual interview with Center for Global Development President Masood Ahmed on Tuesday.